Japan Airlines aims to re-list by September: report

Japan Airlines, the flag-carrier that went bust in one of the nation's biggest-ever bankruptcies, is aiming to re-list its shares by September, the Nikkei business daily reported Friday.

The airline, whose shares were delisted in February 2010, will file an application with the Tokyo Stock Exchange this month with plans to have its stock publicly traded again on September 19, the report said.

JAL went bankrupt in January 2010 with debts totalling 2.32 trillion yen ($29 billion), but it continued flying during an overhaul that included massive cuts to jobs and routes.

It exited bankruptcy protection last year and logged an annual net profit of $2.3 billion in the fiscal year to March 2012.

The airline's market value after the float would be between 600 billion and 700 billion yen, vaulting it ahead of rival All Nippon Airways' market capitalisation of roughly 550 billion yen, the report said.

JAL's estimated value would be about twice the 350 billion yen in public funds that were used during its restructuring, the Nikkei said.

A spokesman for the carrier told AFP that "no official decision has been made" on a new listing.

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • The other side of Palawan Ellen Tordesillas, Contributor - The Inbox
    The other side of Palawan

    By Ellen T. Tordesillas Mention Palawan and what comes to mind are  Underground River and El Nido in the northern side of this richly-blessed province from its capital, Puerto Princesa. Three  weeks ago, we went to the southern side- in … Continue reading → …

  • What can void a new car warranty? James Deakin - Wheel Power
    What can void a new car warranty?

    "I was denied warranty once for changing my horn!" One very annoyed reader wrote. "I was told that placing a backup camera will void my warranty" said another. The others are best left in my private inbox as Yahoo! have a swear jar in the office that I do not feel like donating this week's pay to. Continue reading → …

  • Docu exposes destruction of PH marine resources VERA Files - The Inbox
    Docu exposes destruction of PH marine resources

    By Kiersnerr Gerwin Tacadena, VERA Files "Gutom (hunger)," Sen. Loren Legarda said is what’s in store for the Filipino people if destruction of the country's marine resources is not stopped. Legarda, chair of the Senate committee on Environment and Natural … Continue reading → …

POLL
Loading...
Poll Choice Options