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Thursday, November 19, 2009

JAL has only enough cash to cover 10 more days of operation?

Times Online reports that Japan Airlines may only have enough cash to cover 10 more days of operations!

Japan Airlines (JAL), which may have only enough cash to fund ten more days of operation, could be allowed to go bankrupt if a rescue package does not emerge quickly, the Government hinted yesterday.

The Transport Minister has once said JAL has enough cash to operate till year end. I guess, if Times Online is correct, JAL's business has deteriorated faster than expected. But my recent flights told me otherwise. All of them have close to 100% flight load. And the Sakura Lounge was much crowder than when I was there in July. Business should be recovering not deteriorating LOL

Anyways, may be it's time to invest in a travel insurance (assuming JAL flights are still insurable :P) just in case JAL failed to secure a bridging loan and is forced to suspend operations. Fingers crossed. And none of this would have happened if the new Japanese Government had acted faster to rescue JAL :(

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