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Majority of JAL retirees supporting pension reduction plan

16-Dec-2009 11:15 AM

Japan Airlines received approval from approximately 5,700 retirees for proposed reductions to their pension benefits in a preliminary survey, which received approximately 7,600 replies (Kyodo/Reuters, 15-Dec-2009). In order for JAL to carry out the pension reductions, which is a prerequisite for the airline to receive a government financial package, the carrier needs to obtain consent from two-third of 8,800 retirees and 17,000 employees. 

Japan Airlines: "We can't be optimistic, but we believe it will be possible to reach (the two-thirds) in view of the fact that three-quarters of the respondents gave their approval," spokesperson. Source: Kyodo, 15-Dec-2009.