29-Mar-2011 8:29 AM

JAL announces completion of corporate reorganisation proceedings

Japan Airlines stated (28-Mar-2011) that the company, with the approval from the Tokyo District Court, procured a total of JPY254.96 billion (USD3.1 billion) from 11 financial institutes including from primary creditors and made a one-time, full repayment of reorganisation claims amounting JPY395,145.57 million (USD4.8 billion). The carrier has now completed the Corporate Reorganisation Proceedings. Under the leadership of the newly appointed board of directors, Japan Airlines International will "direct all efforts towards rebuilding the business. It will also fulfill its responsibilities as a public transport operator and continue contributing as much as possible to the regions in Japan stricken by the recent natural disaster". [more]