JAL sells stakes in another two ground handling subsidiaries

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Japan Airlines (JAL) plans to sell a majority share in two passenger and ground handling subsidiaries to logistics firm Suzuyo, as it continues to divest non-core assets.

JAL subsidiary, Japan Airlines International, will sell a 95% stake in JAL Sky Nagoya and a 61% stake in Chubu Sky Support, says the Oneworld carrier.

Another JAL subsidiary, JAL Ground Service, will sell its 34% stake in Chubu Sky Support.

After the sale, JAL will retain a 5% stake in each of the two subsidiaries.

JAL Sky Nagoya provides flight and passenger handling services at Chubu International Airport, while Chubu Sky Support offers ground handling services at the same airport.

In addition to the sale, JAL International subsidiary JAL Cargo Service will transfer its cargo handling business at Chubu Airport to Suzuyo, says JAL.

The stock transfer will be completed on 30 September, it adds.

JAL, which filed for bankruptcy protection in January, is progressively selling its non-core assets as it undergoes financial restructuring.