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JAL appoints advisor, may receive more government funds

21-Sep-2009 11:36 AM

Japan Airlines has reportedly appointed Merrill Lynch as adviser to evaluate the carrier’s value and select a partner, as part of its restructure (Bloomberg, 20-Sep-2009). Finance Minister, Shizuka Kamel, reportedly stated JAL may receive further government funds through state-owned Development Bank of Japan as it seeks to find alliance partners (Bloomberg, 19-Sep-2009). Japan Transport Minister, Seiji Maehara, is reportedly expected to meet with JAL President, Haruka Nishimatsu, on 24-Sep-2009 to discuss the carrier’s proposed restructuring plan (Kyodo News, 21-Sep-2009).

Japan Government: “It’s a big national project to rehabilitate the airline properly. We will back up JAL if the company makes all efforts for its survival,” Shizuka Kamel, Finance Minister. Source: Bloomberg, 19-Sep-2009.