Problems in Japan, problems at JetBlue and Pandora’s box

JetStar Japan has gone out to shareholders for additional working capital of around Y11bn ($119m). This is the second time this month that an airline, which other airlines have invested in (albeit that this one is integral to the business models of Qantas and Japan Airlines), has demanded cash. Sometime soon Etihad will get its first real shock to the aircraft investment model when Jet Airways asks for working capital. Of course the other airline to ask for money this month was Alitalia, which in the event were most unkind, boxing into a corner their Air France-KLM shareholder “friends”. In