JAL shares drop as bankruptcy looms

Saturday, January 09, 2010
TOKYO: Japan Airlines (JAL) took another dive on the Tokyo stock market on Friday following news reports that the government is finalising a bankruptcy option for the debt-ridden carrier. Shares in Asia’s biggest airline sank 11.8 per cent to close at 67 yen.

Japan Airlines shares dive on bankruptcy fears

Thursday, December 31, 2009
TOKYO: Fears deepened on Wednesday about the future of debt-ridden Japan Airlines as shares in Asia’s biggest carrier plunged to a record low on fears it might file for bankruptcy, dealers said.

JAL, battered by the global recession and swine flu pandemic, is scrambling to slash costs and seeking its fourth government bailout since 2001 to keep flying in the face of mounting losses. Media reports that bankruptcy is one option for the cash-strapped carrier have spooked investors.

Rs6.18 billion for Gwadar airport

ISLAMABAD: The government has decided to provide Rs6.18 billion for construction of an international airport in Gwadar, despite an earlier decision that the airport would be built by the Civil Aviation Authority (CAA) from its own resources.

The total cost of the project is Rs7.5 billion. The government of Oman will provide a grant of $17.5 million.