JAL CREDITORS BACK RESTRUCTURING PLAN, SAYS AIRLINE

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By admin November 23, 2010 21:48

JAL CREDITORS BACK RESTRUCTURING PLAN, SAYS AIRLINE

Japan Airlines (JAL) has confirmed its creditors have approved a rehabilitation plan under which they would waive debts worth more than 520 billion yen ($6.3 billion). Fresh loans of 280 billion yen from its main creditors, five major Japanese banks, have also been approved and will be available from March.

JAL declared bankruptcy in January owing $26 billion dollars.

admin
By admin November 23, 2010 21:48
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