The government-linked Development Bank of Japan (DBJ) has provided Japan Airlines (JAL) with emergency funds to help it avoid operational disruptions while the carrier seeks a long-term solution to its financial problems.
The loan will help cover JAL's short-term financial needs until 31 March 2010, says a JAL spokeswoman.
She declined to state the loan amount, but says a top JAL finance executive publicly disclosed recently that JAL needs ¥125 billion ($1.4 billion) in funding for the period ending 31 March 2010. The loan amount is less than that, she adds.
JAL has posted large losses this year and has applied for a bail-out from the government-backed Enterprise Turnaround Initiative Corporation of Japan (ETIC). ETIC is still assessing JAL's application for assistance. So far it remains noncommittal on whether it will help JAL.
Source: Air Transport Intelligence news
