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.

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