Japan's government in the coming days plans to decide on a financial bail-out for Japan Airlines after the carrier's banks reportedly declined to waive some its debts.
Finance minister Hirohisa Fujii told reporters in Tokyo today that in the next few days the government will decide on a financial turnaround plan.
Reports in Japan, citing unnamed sources, say a state-backed government agency may inject money into the airline and take a majority stake in JAL, a move that comes after airline's banks refused to waive some of its debts.
The airline's banks are: the Development Bank of Japan, Mizuho Corporate Bank, Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Bank.
JAL is also reportedly looking to sell its hotel chain to raise cash.
Source: Air Transport Intelligence news