JAL announced restructuring details, including list of route suspensions
Jan 4, 2011, 2:55 am
#272
Ambassador: Japan Airlines
Original Poster
Join Date: Mar 2008
Location: LAX
Programs: JAL Mileage Bank, JMB Diamond, oneworld Emerald, Bonvoy Platinum
Posts: 16,396
Jan 5, 2011, 1:59 am
#273
Ambassador: Japan Airlines
Original Poster
Join Date: Mar 2008
Location: LAX
Programs: JAL Mileage Bank, JMB Diamond, oneworld Emerald, Bonvoy Platinum
Posts: 16,396
Jan 8, 2011, 6:17 am
#274
Ambassador: Japan Airlines
Original Poster
Join Date: Mar 2008
Location: LAX
Programs: JAL Mileage Bank, JMB Diamond, oneworld Emerald, Bonvoy Platinum
Posts: 16,396
http://e.nikkei.com/e/fr/tnks/Nni20110108D08JF401.htm
A big happy bankruptcy anniversary gift 
Some 140 former Japan Airlines Corp. pilots and cabin attendants plan to file a lawsuit with the Tokyo District Court on Jan. 19, seeking nullification of the carrier's decision to dismiss them as part of its rehabilitation efforts, sources familiar with the matter said Saturday.
...
...
Jan 10, 2011, 6:37 am
#275
Ambassador: Japan Airlines
Original Poster
Join Date: Mar 2008
Location: LAX
Programs: JAL Mileage Bank, JMB Diamond, oneworld Emerald, Bonvoy Platinum
Posts: 16,396
English press release for the IT restructuring details: http://press.jal.co.jp/en/release/201101/001718.html
Jan 22, 2011, 4:30 am
#276
Suspended
Join Date: Oct 2009
Posts: 210
JAL still in serious financial trouble - JAL unable to finance / recapitalize itself
I know that - given the airline's history - there's still an obscene lack of transparency, and a lot of information concerning the company's finances is still unclear.
Nevertheless, by the looks of it, 1 year after JAL's bankruptcy, it would seem that the airline is still pretty much BANKRUPT.
It might very well be that they still have some cash in the bank (liquidities), but for how much longer????
I refer to my earlier postings: #89 , #108 and #153.
I mean seriously: the govt. entities issued 175bn in debt, to take on 350bn in share capital, with the provision that this capital could be diluted (new cash - 350 bn - remaining on the airline's books), with capital bound to be opened by/for third party investors.
I mean, on paper that looks like a mighty sweet deal!!! ... depending of course on how the public money / shares would have been sunk / diluted.
Now it appears to me, that during the events of January last year, the liquidators have been seriously "kicking the can down the road", avoiding dealing with the real issues and the real debt and asset write-offs; a bit like what happened at the Japanese banks in the 1990s...
What other reason could there be for JAL still to be unable to issue 50bn in new share capital before 31 March 2011?????
In airline finances 500 mio EUR is just peanuts, certainly for an airline the size of JAL, with all the assets (NRT and HND slots) on its books... or should I say on its cooked books?? For JAL has been announcing so-called "operational profits" (whatever that may be for a company in JAL's case) for the last couple of quarters, yet has failed to give an overview / insight in the real state of its finances.
Something really fishy is going on here.
Mark my words: something's really wrong here!!!!
WSJ (fair use)
.
Nevertheless, by the looks of it, 1 year after JAL's bankruptcy, it would seem that the airline is still pretty much BANKRUPT.
It might very well be that they still have some cash in the bank (liquidities), but for how much longer????
I refer to my earlier postings: #89 , #108 and #153.
I mean seriously: the govt. entities issued 175bn in debt, to take on 350bn in share capital, with the provision that this capital could be diluted (new cash - 350 bn - remaining on the airline's books), with capital bound to be opened by/for third party investors.
I mean, on paper that looks like a mighty sweet deal!!! ... depending of course on how the public money / shares would have been sunk / diluted.
Now it appears to me, that during the events of January last year, the liquidators have been seriously "kicking the can down the road", avoiding dealing with the real issues and the real debt and asset write-offs; a bit like what happened at the Japanese banks in the 1990s...
What other reason could there be for JAL still to be unable to issue 50bn in new share capital before 31 March 2011?????
In airline finances 500 mio EUR is just peanuts, certainly for an airline the size of JAL, with all the assets (NRT and HND slots) on its books... or should I say on its cooked books?? For JAL has been announcing so-called "operational profits" (whatever that may be for a company in JAL's case) for the last couple of quarters, yet has failed to give an overview / insight in the real state of its finances.
Something really fishy is going on here.
Mark my words: something's really wrong here!!!!
WSJ (fair use)
JAL Pushes Back Capital Goal
By YOSHIO TAKAHASHI
TOKYO—Japan Airlines Corp.'s chairman said Wednesday that the company may not be able to meet its goal of raising 50 billion yen ($609 million) in capital from the private sector by the end of March, highlighting JAL's difficulties in returning to full financial health a year after it filed for bankruptcy protection.
JAL had said it would use the 50 billion yen as a buffer to deal with sudden changes in its business environment, such as a sharp drop in passenger demand or a surge in fuel prices. But Chairman Kazuo Inamori said the airline is having trouble finding investors willing to lend to a company that filed for Japan's biggest nonfinancial bankruptcy only 12 months earlier.
"We wanted to boost our capital by the end of March. But it looks like we are a little far from that" goal, he said at a news conference.
The company has also asked for a debt waiver of 521.5 billion yen from lenders and received a 350 billion yen injection from the government-backed Enterprise Turnaround Initiative Corp. as part of its restructuring measures.
...
Write to Yoshio Takahashi at [email protected]
http://online.wsj.com/article/SB1000...360354790.html
By YOSHIO TAKAHASHI
TOKYO—Japan Airlines Corp.'s chairman said Wednesday that the company may not be able to meet its goal of raising 50 billion yen ($609 million) in capital from the private sector by the end of March, highlighting JAL's difficulties in returning to full financial health a year after it filed for bankruptcy protection.
JAL had said it would use the 50 billion yen as a buffer to deal with sudden changes in its business environment, such as a sharp drop in passenger demand or a surge in fuel prices. But Chairman Kazuo Inamori said the airline is having trouble finding investors willing to lend to a company that filed for Japan's biggest nonfinancial bankruptcy only 12 months earlier.
"We wanted to boost our capital by the end of March. But it looks like we are a little far from that" goal, he said at a news conference.
The company has also asked for a debt waiver of 521.5 billion yen from lenders and received a 350 billion yen injection from the government-backed Enterprise Turnaround Initiative Corp. as part of its restructuring measures.
...
Write to Yoshio Takahashi at [email protected]
http://online.wsj.com/article/SB1000...360354790.html
Jan 22, 2011, 4:47 am
#277
Ambassador: Japan Airlines
Original Poster
Join Date: Mar 2008
Location: LAX
Programs: JAL Mileage Bank, JMB Diamond, oneworld Emerald, Bonvoy Platinum
Posts: 16,396
I know that - given the airline's history - there's still an obscene lack of transparency, and a lot of information concerning the company's finances is still unclear.
Nevertheless, by the looks of it, 1 year after JAL's bankruptcy, it would seem that the airline is still pretty much BANKRUPT.
It might very well be that they still have some cash in the bank (liquidities), but for how much longer????
I refer to my earlier postings: #89 , #108 and #153.
I mean seriously: the govt. entities issued 175bn in debt, to take on 350bn in share capital, with the provision that this capital could be diluted (new cash - 350 bn - remaining on the airline's books), with capital bound to be opened by/for third party investors.
I mean, on paper that looks like a mighty sweet deal!!! ... depending of course on how the public money / shares would have been sunk / diluted.
Now it appears to me, that during the events of January last year, the liquidators have been seriously "kicking the can down the road", avoiding dealing with the real issues and the real debt and asset write-offs; a bit like what happened at the Japanese banks in the 1990s...
What other reason could there be for JAL still to be unable to issue 50bn in new share capital before 31 March 2011?????
In airline finances 500 mio EUR is just peanuts, certainly for an airline the size of JAL, with all the assets (NRT and HND slots) on its books... or should I say on its cooked books?? For JAL has been announcing so-called "operational profits" (whatever that may be for a company in JAL's case) for the last couple of quarters, yet has failed to give an overview / insight in the real state of its finances.
Something really fishy is going on here.
Mark my words: something's really wrong here!!!!
WSJ (fair use)
.
Nevertheless, by the looks of it, 1 year after JAL's bankruptcy, it would seem that the airline is still pretty much BANKRUPT.
It might very well be that they still have some cash in the bank (liquidities), but for how much longer????
I refer to my earlier postings: #89 , #108 and #153.
I mean seriously: the govt. entities issued 175bn in debt, to take on 350bn in share capital, with the provision that this capital could be diluted (new cash - 350 bn - remaining on the airline's books), with capital bound to be opened by/for third party investors.
I mean, on paper that looks like a mighty sweet deal!!! ... depending of course on how the public money / shares would have been sunk / diluted.
Now it appears to me, that during the events of January last year, the liquidators have been seriously "kicking the can down the road", avoiding dealing with the real issues and the real debt and asset write-offs; a bit like what happened at the Japanese banks in the 1990s...
What other reason could there be for JAL still to be unable to issue 50bn in new share capital before 31 March 2011?????
In airline finances 500 mio EUR is just peanuts, certainly for an airline the size of JAL, with all the assets (NRT and HND slots) on its books... or should I say on its cooked books?? For JAL has been announcing so-called "operational profits" (whatever that may be for a company in JAL's case) for the last couple of quarters, yet has failed to give an overview / insight in the real state of its finances.
Something really fishy is going on here.
Mark my words: something's really wrong here!!!!
WSJ (fair use)
.
By the way JAL aims to complete corporate rehabilitation procedures by the end of March (http://www.yomiuri.co.jp/dy/business/T110117003780.htm)
Edit: Nevermind, I saw you have edited your post to include the link.