15-Jun-2010 11:17 AM

Japan Airlines expecting USD11bn in restructuring costs

Japan Airlines Corp stated it expects more than JPY1 trillion (USD10.9 billion) in restructuring costs from staff reductions and early retirement schemes and the disposal of ageing aircraft in favour of smaller aircraft (Nikkei Daily/Kyodo, 14-Jun-2010). Meanwhile, the carrier plans to lower its personnel expenses by JPY106.8 billion (USD1.2 billion) in FY2010  (Nikkei Daily, 11-Jun-2010). The carrier has reduced its workforce faster than expected, with around 4,000 employees signing up for early retirement.