Japan Airlines (JAL) is gearing up to get relisted on the Tokyo Stock Exchange (TSE).
A JAL spokeswoman confirms that the flag carrier held a shareholders' meeting this morning, but would not say whether an application had been made for the listing.
She adds that JAL aims to "revitalise [itself] as a private company with a sound foundation as soon as possible". While no dates have been set, its target is to get listed before March 2013, she adds.
Media reports in Japan, meanwhile, quote sources saying that JAL is expected to make an application to TSE today after explaining its initial public offering (IPO) plan at the shareholders meeting. If approved, the carrier could be listed by September, they add.
The reports also say that JAL, which has successfully rebounded out of its 2010 bankruptcy, expects to raise up to Y700 billion ($8.9 billion) in the IPO.
JAL filed for bankruptcy protection in January 2010 after racking up years of successive losses and huge debts, and requested for a government bail-out. Its shares were also delisted from the TSE, the Osaka Securities Exchange and Nagoya Stock Exchange.
The airline completed a court-led rehabilitation last March and posted a higher-than-expected full-year net profit of Y187 billion for the 2011 fiscal year.
For this fiscal year, it is forecasting an operating revenue of Y1,220 billion, operating income of Y150 billion and net income of Y130 billion for this fiscal year.