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Tuesday, January 19, 2010

JAL issued statement regarding restructuring

Japan Airlines has issued a statement regarding its restructuring. Below are the highlights:

Claims regarding protections.
  1. Protection of regular business credits. This is essential to ensure flight safety and operations.
  2. Protection of JMB miles. Loyal customers like us are important to JAL. So it will protect all the JMB miles. 
  3. Protection of Leasing fee. This is to ensure JAL has aircraft to operate its flights. 

Restructure measures.
  1. Switch from large sized aircraft to small sized and regional jets to improve fuel efficiency.
  2. Review of workforce and organization structures to streamline operations. Assign young executive to build new management structure.
  3. Establishment of business operation system to optimize revenue. Low cost carrier establishment is needed to satisfy demand of tourism. JAL also needs to flexibly utilize its fleet for domestic and international routes and also to take advantage of the coming open skies policy.
  4. Invest in renovating aircraft equipments (more new products :) and IT to remain competitive. 

Pension Reform
  • Already obtain required approvals from staff and retirees.

Management Responsibilities
  • Haruka Nishimatsu and other directors will take full responsibilities of JAL's failure and will step down as a result.

New Management Structure
  • It will be decided in early February 2 2010. Meanwhile Senior Managing Executive Officer will take over as acting COO.

You can read the complete Press Release on JAL website. Hopefully I (or more like google translate) didn't make any mistakes in the translation...







Update: English version of the press release is available here.

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