Japan Airlines strikes back: CEO seeks to clear the air – favours Delta switch?

The controversy and confusion surrounding Japan Airlines has intensified over the New Year period, with the state-owned Development Bank of Japan committing to double its credit line for the beleaguered airline to JPY200 billion (USD2.2 billion) in a bid to stabilise the carrier while a rescue plan is sorted out. JAL's stock plunged in the last days of 2009, as investors speculated the airline was heading for bankruptcy proceedings.