UPDATE 1-JAL to cut 17 more routes by June - News

Runway Angels
The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Fashion Show.
Smartphone Guide
Here's a need-to-know guide to nine devices, based on features, price, network and platform.
Wines for the Holidays
Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES

How Much Do You Know About Green?
Green has become part of our everyday lives. Green is everywhere-- energy, clothing, food, housing, transportation. It's a big business and a global business.
The Billionaire BFF's
Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?
The Many Myths of Coca-Cola
Can you tell which statements are true, and which ones are just rumors?

SPECIAL REPORTS

Winterizing Your Portfolio
If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.
Investor's Guide to Real Estate
Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.
Alternative Investing
Stocks and bonds? Sure. But it's a big world out there for investors.

CNBC ON DIGG

UPDATE 1-JAL to cut 17 more routes by June

By: AFX | 05 Nov 2009 | 03:27 AM ET

Text Size

TOKYO, Nov 5 (Reuters) - Japan Airlines Corp said it plans to eliminate a total of 17 more domestic and international routes by June, stepping up its route closures as it scrambles to turn around its loss-making business. The additional route reduction by Asia's largest airline by revenue came after it applied for assistance from a state-backed corporate turnaround body, setting the stage for a large injection of public funds into the troubled carrier. "JAL is bleeding everyday. We decided we need to do something as soon as possible," Manabu Sato, JAL deputy general manager of corporate affairs, told reporters. Including those announced previously, the carrier will terminate flights on 30 routes, including 13 international. JAL is headed for its fourth loss in five years, weighed down by $15 billion in debt and crippling pension costs and it is under pressure to restructure its bloated flight routes. (Reporting by Nobuhiro Kubo, Taiga Uranaka) ((nobuhiro.kubo@thomsonreuters.com; +81-3-6441-1821; Reuters Messaging: nobuhiro.kubo.reuters.com@reuters.net)) Keywords: JAL/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Tools: