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Thursday, September 17, 2009

Bankruptcy is NOT an option for JAL

It worries me a bit when the new Japan transport minister Seiji Maehara said he will replace Japan Airlines' restructuring panel. It was just a waste of time, especially when JAL CEO has just presented their plan to the panel the day before :( But at the press conference today Maehara made a strong statement.

According to Nikkei.com (yes the one you get free access at JAL lounge at Narita)

New transport minister Seiji Maehara said Thursday that bankruptcy is not an option for struggling Japan Airlines Corp., emphasizing that Japan should keep JAL and All Nippon Airways Co. as the two pillars of its aviation industry.

Speaking at a press conference, Maehara also indicated that the government would accelerate efforts to rehabilitate JAL, saying, ''The time left for us for the JAL rehabilitation is limited.''

So if time is really limited, why the hell did you replace the expert panel set up by the previous administration. I know the panel was set up by a different party, but those people are reputable experts but politicians like you! And if you are to replace the panel, why did you let JAL CEO present their plan to the panel the day before? Is this a waste of his time? Maybe this is just an unfortunate timing issue since the new party didn't take over the office until yesterday :(

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