16-Nov-2010 10:44 AM

JAL to request USD3.4bn in loans from major lenders

Japan Airlines will reportedly ask five major lenders for JPY284.9 billion (USD3.4 billion) in loans instead of the JPY319.2 billion (USD3.8 billion) it had previously sought (The Nikkei, 16-Nov-2010).  The carrier is expected to reach a basic agreement on the loan as early as this week. The airline's rehabilitation administrator, the Enterprise Turnaround Initiative Corp of Japan, is expected to guarantee around JPY10 billion (USD120 million).