JAL announced restructuring details, including list of route suspensions
#91
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http://www.kpmg.ch/docs/200803_Faste..._Seatbelts.pdf
All major airlines in the world have done it either because IFRs have been adopted as accounting rules by most countries or on a voluntary basis. Typically the FFP is a debt of several billion US$ on the balance sheet.
Wonder if JAL did it or whether FFP liability does not show on the books. Anyone knows?
If it did, that is a debt that can be easily reduced by reducing FFP benefits (AF/KL did it last year). If it did not, then the balance sheet is even worse than reported. In both cases, the JMB miles are at serious risk.
If I had significant amount of JMB miles, I would quickly book and issue an award ticket on another OW airline. Once the ticket is issued by the other airline it should not matter if JAL goes bankrupt.
Last edited by brunos; Jul 1, 2010 at 4:33 am
#92
Join Date: Jun 2005
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I wouldn't be so sure , if you are using JMB miles wouldn't the ticket be issued by JL on JL stock ? I am not sure that other OW carriers would be obligated to accept JL tickets if they went under .
#93
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If indeed the ticket is issued on JL stock rather than the other airline stock, then you are not protected.
#94
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So the bright idea is to fly on JL with other airlines' miles. You get a nice flight if everything works out and you can get the miles back or use them elsewhere if things go bad.
(and no one has said a thing about what happens to the JL subsidiaries that aren't fully owned by them if the whole thing collapses- RAC and JTA, for instance)
(and no one has said a thing about what happens to the JL subsidiaries that aren't fully owned by them if the whole thing collapses- RAC and JTA, for instance)
#95
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Well the Saga is about to get interesting again....
http://atwonline.com/aeropolitics-re...loans-jal-0702
Oh My..... They should have filed bankruptcy sooner and gone for more massive cost cutting move...
http://atwonline.com/aeropolitics-re...loans-jal-0702
The Japanese government reportedly is considering guaranteeing repayment of private bank loans to bankrupt Japan Airlines.
According to Yomiuri Shimbun, Enterprise Turnaround Initiative Corp. of Japan (ATW Daily News, Jan. 15) would back the loans in order to enhance the airline's efforts to negotiate with creditor banks ahead of its rehabilitation plan deadline at the end of August.
The newspaper reported that Hideo Seto, chairman of the government-backed turnaround body's committee overseeing JAL's bankruptcy restructuring, said last week that ETIC may throw a lifeline to JAL by guaranteeing repayment of about ¥500 billion ($5.7 billion) in loans. Seto told media that "we'll probably reach an agreement by around early August."
According to Yomiuri Shimbun, Enterprise Turnaround Initiative Corp. of Japan (ATW Daily News, Jan. 15) would back the loans in order to enhance the airline's efforts to negotiate with creditor banks ahead of its rehabilitation plan deadline at the end of August.
The newspaper reported that Hideo Seto, chairman of the government-backed turnaround body's committee overseeing JAL's bankruptcy restructuring, said last week that ETIC may throw a lifeline to JAL by guaranteeing repayment of about ¥500 billion ($5.7 billion) in loans. Seto told media that "we'll probably reach an agreement by around early August."
#98
Join Date: Jan 2007
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The JAL's fall began already in 1987, the year the company fully privitized.
They managed the company like a government subsidy.
The privitized company was managed by ex-government officials old boys network. No wonder the company could not managed efficiently.
Like in many problems in Japan, it's the politics stupid.
Too close interreelationship between the corporations and the government & LDP.
They know the problem, but no one is willing to take an initiative.
That is what made the fall of JAL possible.
They managed the company like a government subsidy.
The privitized company was managed by ex-government officials old boys network. No wonder the company could not managed efficiently.
Like in many problems in Japan, it's the politics stupid.
Too close interreelationship between the corporations and the government & LDP.
They know the problem, but no one is willing to take an initiative.
That is what made the fall of JAL possible.
#99
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#100
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#101
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http://en.wikipedia.org/wiki/Japan_Airlines#Fleet
(which is just to add fuel to the fire -- I am not saying wikipedia is right).
#102
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Not that I care but airfleets is pretty accurate with their numbers!
http://www.airfleets.net/ageflotte/Japan%20Airlines.htm
http://www.airfleets.net/flottecie/Japan%20Airlines.htm
http://www.airfleets.net/ageflotte/Japan%20Airlines.htm
http://www.airfleets.net/flottecie/Japan%20Airlines.htm
#103
Ambassador: Japan Airlines
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As of March 31 2010, JAL had 42 747.
http://www.jal.com/en/corporate/gaiyo/flight.html
Since then, JAL has at least delivered ONE 747-400 (JA8922, http://www.flyertalk.com/forum/13977368-post56.html) to its buyer
http://www.jal.com/en/corporate/gaiyo/flight.html
Since then, JAL has at least delivered ONE 747-400 (JA8922, http://www.flyertalk.com/forum/13977368-post56.html) to its buyer