Japan's Enterprise Turnaround Initiative Corporation (ETIC) has started work on a business revitalisation plan for struggling Japan Airlines (JAL).
It will ensure that the airline's business operations will be "performed smoothly without any interruption [and] as usual with sufficient amount of capital", says the corporation.
Under the plan, all debt related to JAL's regular business will be protected, says the ETIC.
There will be no changes to the usage of air tickets or to frequent flyer mileage, it adds.
Aircraft leasing fees will be paid as usual, and flight coupons issued to shareholders will continue to be valid until their maturity dates, says the ETIC.
JAL posted a fiscal second quarter net loss of ¥32.1 billion ($348 million) and had applied to the government-backed ETIC for a bail-out.
Source: Air Transport Intelligence news
