So far from what I have read briefly (I have been busy all day) I am not in the least impressed.. If I was an investment bank I'd laugh at JAL if they came asking for money because it is a pit and who knows what else might be on their books that we don't know about.
Originally Posted by
maeharasmuse
Just as I had predicted. There's even no more direct talk of an IPO. Just of a partial share issue to a so-called third party, that can step in to suck the company dry (especially its newly infused cash, 175 BN coming from a new public debt issue which will not be shared with other investors).
Given the dire state of the airline, I'ld be really be surprised if any of the investment banks or P.E. funds were to step in, notwithstanding the fresh cash that's up for grabs.
My guess would rather be either one of the national keiretsu holdings, or a consortium led by AA...
Just to make clear who's really in charge now.
Also, imho the whole new LCC project is really perverse. JAL has had its chance, for many many years it has been able to fend off any new competition in the Japanese air services market (e.g. the JAS debacle).
Time for JAL to hand back some slots and allow some really new (and really low cost and really innovative) players to compete; preferably in a level playing market and operations field.
Any news about the new JAL order for 65 new Boeing airliners??
And what about the earlier announced structural changes? E.g. regulatory overhaul of market-impeding restrictions on pricing, distribution, service fees, airport charges, slot allocation, etc.??
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