American Air Said to Consider Buying Japan Air Stake
From Bloomberg, American Air Said to Consider Buying Japan Air Stake
Sept. 14 (Bloomberg) — American Airlines, the world’s second-largest carrier, may buy equity in Japan Airlines Corp. to prop up an ally that forecasts its fourth loss in five years, two people familiar with the plan said. Japan Air rose the most in six months.
American also plans to expand code-sharing with Japan Air, its partner in the Oneworld marketing alliance, the people said yesterday, asking not to be identified because the discussions aren’t public. Japan Air is talking with other carriers to strengthen its business, spokeswoman Sze Hunn Yap said in Tokyo, declining to comment on discussions or possible investments.
Japan Air, which has received three government bailouts since 2001, the most recent in June, is also in talks on possible stake sales to Delta Air Lines Inc. and Air France-KLM, people familiar with those negotiations have said. The carrier, known as JAL, will present the outline of its mid-term plan to a government panel of legal and academic experts in Tokyo tomorrow and aims to announce the plan by the end of this month, Yap said.
“An investment by American or Delta is a step in the right direction,” said Mitsushige Akino, who oversees $645 million in assets in Tokyo at Ichiyoshi Investment Management Co, which doesn’t own the stock. “The question is how serious they are and how much money they are willing to invest.”
Read full report at Bloomberg, American Air Said to Consider Buying Japan Air Stake
Similar Posts:
- AMR’s American Still Plans Japan Airlines Investment (Update2)
- Japan Air Stake May Help Delta or American With China Access
- Japan Airlines Plans Quick Decision on Delta, American Offers
- Japan Air to File for Bankruptcy, Government Says (Update1)
- Japan Says JAL Can Be Saved, With State Bailout
