Japan Airlines Corp Chairman planning to return the carrier to monthly profitability in Autumn
Japan Airlines Corp Chairman, Kazuo Inamori, stated he plans to return the carrier to profitability on a monthly basis from Autumn-2010, but added that the carrier is currently “bleeding a loss every day” (Dow Jones/AFP, 17-Mar-2010). Mr Inamori added, “we have to proceed with drastic restructuring, including cost cutbacks" if the target it to be achieved and if the carrier is to secure funds from financial institutions in the future.
Japan Airlines Corp: ''Unless we are back into the black by around that time, we will not be able to receive financing in the future, not only from the government but also from our traditional mega-banks. We need to carry out major restructuring including massive downsizing of costs,'' Kazuo Inamori, Chairman. Source: Kyodo, 17-Mar-2010.