4-Sep-2009 10:14 AM

Japan Airlines to significantly reduce holding in Hokkaido Air System Co

Japan Airlines reportedly plans to significantly reduce its shareholding in subsidiary, Hokkaido Air System Co, from the current 51%, as part of efforts to restore profitability (Kyodo News, 04-Sep-2009). JAL reportedly plans to sell its shares to the Hokkaido Prefectural Government, which owns a 49% stake. With the sale, Hokkaido Air System will reportedly be removed as a JAL consolidated subsidiary.