Japan Airlines applies for new stock listing: reports

Japan Airlines (JAL), the flag-carrier that went bust in one of the nation's biggest-ever bankruptcies, has formally applied to re-list its shares in Tokyo, reports said Wednesday.

JAL made the filing with the Tokyo Stock Exchange on Wednesday and could see its shares traded again on the country's main bourse by mid-September, if the request is approved, according to Jiji Press and Kyodo News agencies.

An earlier story published by the Nikkei business daily said the carrier's shares could be traded again by September 19.

Both the company and Tokyo Stock Exchange declined comment on Wednesday.

The airline went bankrupt in January 2010 and its shares were delisted the following month, with debts totalling 2.32 trillion yen ($29 billion), but it continued flying during an overhaul that included massive job and route cuts.

JAL exited bankruptcy protection last year and logged an annual net profit of about $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 Nikkei report said last week.

JAL's estimated value would also be about twice the amount of public money used to fund its restructuring, it added.

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.

  • Fight vs online libel goes to the UNHCR The Inbox
    Fight vs online libel goes to the UNHCR

    Commentary By Ellen T. Tordesillas Last Tuesday, while in Baguio City for their summer session, the Supreme Court denied all the Motions for Reconsideration on Online Libel which it upheld in its Feb. 18, 2014 decision. It will be recalled … Continue reading → …

  • Book chronicles efforts for PWD-friendly polls VERA Files - The Inbox
    Book chronicles efforts for PWD-friendly polls

    By Melissa Luz Lopez, VERA Files A lot have been done but much still need to be done for a hassle-free participation of Persons with Disabilities in elections,according to a book published by The Asia Foundation (TAF) and supported by … Continue reading → …

  • 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 → …

POLL
Loading...
Poll Choice Options