Japanese airlines said today they would obey Beijing`s rules when they overfly the East China Sea, but several governments joined Tokyo in criticising China`s latest bid to carve out a zone of control.
Japan Airlines` (JAL) net loss may balloon to about 500 billion yen for the year to March as the heavily indebted carrier, Asia`s largest by revenue, plans to book hefty restructuring charges, a newspaper reported on Thursday.
The government and major creditor
banks of Japan Airlines Corp are examining an option to separate the ailing carrier`s profitable operations from those making losses to accelerate its rehabilitation, sources said on Tuesday.
Cash-strapped Japan Airlines is considering slashing about 5,000 employees or 10 percent of its group workforce by March 2012 to reduce costs by USD 1.6 billion, the Japanese media reported on Tuesday.
Japan Airlines Corp. said Friday it posted a USD 1 billion loss in the April-May quarter, larger than its loss for all of last year, as ticket sales suffered due to the weak economy and swine flu fears.