Business: Good week - Bad week

Good week

© Commercial aviation gallery on flightglobal.com/airspace

JAPAN AIRLINES The biggest airline casualty of the financial crisis won Tokyo District Court approval to go ahead with a rehabilitation plan that will see the carrier's creditors forgive ¥521.5 billion ($6.23 billion) of debt. Japan's Enterprise Turnaround Initiative Corporation will pump in ¥350 billion this month, in exchange for 175 million new shares of the bankrupt airline. JAL is to retire 103 aircraft, including all its Boeing 747-400s, by March 2011.

 

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Bad week

© Star Alliance

SINGAPORE AIRLINES The carrier's cargo unit is the latest to plead guilty in a wide-ranging price-fixing probe, agreeing to pay a $48 million fine and co-operate with the US Department of Justice investigation that has already seen 20 airlines and 17 executives charged and more than $1.7 billion in criminal fines collected. Four executives have been sentenced to prison over the alleged international routes price collaboration between 2002 and 2006.

 

 

Source: Flight International