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Monday, September 7, 2009

Rumor: JAL may sell shares in JALways

More Japan Airlines restructure rumors. This time it's about selling shares in JALways, which mainly operates resort flights, to raise capital.

According to the Nikkei newspaper, JAL will maintain a majority stake in JALways. JAL will use the $ from the sale to repay its debt. Not sure how reliable this rumor is.

Last week Nikkei reports JAL is planning to issue new shares and ask the state-owned bank in Japan to buy them. But it was denied by JAL later. We will find out by the end of the month when JAL releases its restructuring plan.

Source: Bloomberg

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