Word: plan
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...however, Asia's largest airline by revenue is getting the lift it needs to stay in the sky - but not without shedding some bulk. With the government keen on keeping Japan's largest carrier in business, JAL is now set to transition into a three-year, state-backed restructuring plan. Before JAL's filing on Tuesday, Transport Minister Seiji Maehara said, "The government wants to continue to support JAL to ensure its continued stable and safe operations." The Enterprise Turnaround Initiative Corp. of Japan (ETIC), a quasi-government entity that buys the debt of troubled Japanese companies and helps turn...
...flailing airline approached in October, in addition to hundreds of billions of yen in debt waivers from its main lenders. In addition, the ETIC and the state-backed Development Bank of Japan will extend JAL a credit line of more than $3.5 billion. Key measures of the restructuring plan include cutting more than 15,000 jobs, or about 30% of its workforce, by the end of 2013, paring down to about half of its 110 group firms, and slashing unprofitable international and domestic routes. JAL's shares - which hit an all-time low of 3 yen Tuesday afternoon from...
...only two main carriers for domestic routes, JAL and All Nippon Airways, but both airlines' international routes have to compete with bigger - and healthier - global carriers. Over the last few years, JAL has continuously cut back on unprofitable international routes, and will continue to do so under its revitalization plan. Today, JAL has roughly three times the number of international routes operated by ANA, but Matsumoto says that if things go according to plan in the next three years, the size of JAL's international business will decrease by about 40%. "There will be no significant difference between these airlines...
...three-day period, killing about 170 people. Analysts say the timing of Monday's attack was also key, as it came at a particularly vulnerable moment for Karzai. In an attempt to turn the tide in the fight against the Taliban, he is expected to unveil a new plan next week in London to offer $1 billion in incentives - including jobs, education programs and other social benefits - to fighters to encourage them to come over to the government's side. Chellaney says the attack "makes a mockery of the plan...
...assault was also likely intended to be a signal to the U.S. that its plan to increase its troop levels this year could have violent consequences. Just days ago, Gen. Stanley McChrystal, the U.S. commander in Afghanistan, gave an interview with ABC News in which he praised the progress that an earlier troop surge has made in securing Helmand province and taking momentum away from the Taliban. U.S. military officials have noted in the past, however, that dramatic attacks will still occur in the country despite the extra troops on the ground. Monday's commando raid seemed to prove...