Thursday May 24, 2012

JAPAN NEWS AND DISCUSSION

JAL could file for bankruptcy on Jan 19

Business Jan. 10, 2010 - 06:40AM JST ( 21 )

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21 Comments

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some14someJan. 10, 2010 - 07:20AM JST

Sooner the better, good things should not be delayed. Now looking forward to a Healthy JAL flying new heights in the year 2010 !
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pathatJan. 10, 2010 - 08:20AM JST

Struggling Japan Airlines Corp could file for bankruptcy as early as Jan 19 under a government-backed restructuring plan that includes 13,000 job cuts, reports said Saturday.

This will be a bitter unemployment pill for Japan to swallow, but bankruptcy and rehabilitation is the best way to go if JAL ever wants to recover and become a profitable enterprise again.
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pathatJan. 10, 2010 - 08:21AM JST

Somehow that the cuts will be deep enough, and the reorganization thorough enough, to really remake JAL, though.
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guestJan. 10, 2010 - 08:22AM JST

JAL will still be in trouble after these new plans, they owe too much money, its basically a pyramid scam.
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TheRatJan. 10, 2010 - 08:55AM JST

Endless expansion, and all based on long hours and, in the end, crap pay. One of my secretaries checked into being a stewardess and found it only paid 150,000 yen and she was going to be based in Tokyo. Hmmm, that might pay the rent, but I told her to learn to improve her scavaging skills. Then again Northwest stewardess were going through the leftovers themselves (on the advice of management) as well as to "to take strolls instead of going on dates" because of their crap pay as well. Good riddance to crap companies that treat their employees like crap, not that ANY Japanese businessman would ever learn from this failure!
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my2senseJan. 10, 2010 - 09:09AM JST

rat... nice post.
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seesawJan. 10, 2010 - 09:16AM JST

In a bid to ease JAL’s debt burden, the corporate turnaround body will ask banks to forgive 350 billion yen of debt owed by the troubled airline, it said.

Wow. Who could forgive such a large amount of debt?...well, I guess this is Japan. They help each other in need.
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bokudayoJan. 10, 2010 - 09:47AM JST

Wow. Who could forgive such a large amount of debt?...

Have you been following the news in the USA last year about the banking industry?
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pathatJan. 10, 2010 - 09:57AM JST

Endless expansion, and all based on long hours and, in the end, crap pay. One of my secretaries checked into being a stewardess and found it only paid 150,000 yen and she was going to be based in Tokyo.

This wasn't the case for many years. My old girlfriend worked for them from '95-'07 and was making real good money as a career employee til the pay cuts and hirings of so many part-timers started to cause her money and working hour problems a couple of years before she quit.

JAL may well be a hopeless reform case. We shall see.
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guestJan. 10, 2010 - 10:01AM JST

JAL is 20 Billion Dollars in debt minus 350 billion still leaves 16.5 billion dollars of imposable to pay debt. Airlines cant make a billion dollars in five good years. Totally bankrupt and liquidated is its final destination.
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guestJan. 10, 2010 - 10:01AM JST

thats minus 3.5 billion dollars
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DenDonJan. 10, 2010 - 12:40PM JST

to forgive 350 billion yen of debt owed

I tried this once
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tokyoishJan. 10, 2010 - 01:01PM JST

Anyone know what'll happen to JAL miles, I'm thinking I should book my summer flight (on miles) tomorrow! But will it still be valid?
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gameraJan. 10, 2010 - 03:44PM JST

I flew JAL once but I prefer ANA.
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norinrad21Jan. 10, 2010 - 04:20PM JST

They are doomed, its a bitter pill to swallow for the Japanese but JAL is truly doomed
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jam_sandwichJan. 10, 2010 - 10:33PM JST

Couldn't these guys have reached a deal with Delta, or American Airlines? Are they sinking now, because the government didn't do enough, and they are too stubborn to let a foreign company meddle in the affairs of Japan's national airways? Please don't tell me xenophobia has doomed this company, because that would be a terrible excuse for all of the hundred of employees, and dedicated customers that supported JAL...
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SargeJan. 10, 2010 - 11:09PM JST

And yet we have both American Airlines and Delta offering like a billion dollars to keep JAL in their airline groups. Incredible...
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XXXXXJan. 11, 2010 - 01:39AM JST

they see opportunities(routes)
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WeaselJan. 11, 2010 - 03:24AM JST

I see JAL sharing a page in history with (oddly) United Airlines. Pretty much anticipate the JAL bankruptcy going down as planned. I'm guess the following will happen: Exclusive routes to which JAL has rights to will be auctioned off to competing airlines to pay its creditors.
Retirees and current employees will see either pensions get tanked (by at least 40 - 50%).
The bankruptcy court may order JAL to form a merger with either Delta or American (most likely Delta since they've willing for fork up more cash than American) to satisfy creditors - even though JAL opposes this idea. Guess its pretty much a given employee moral is going to go to the dirt, so it may show in customer service.
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ikedunneJan. 11, 2010 - 10:52AM JST

Easy prediction. But you really have to go back to the start of JAL to realize why it's in this position. Formerly government owned. Forced by pols to operate losing routes. When they became 50% private and then 100% private, do you think employees took pay cuts? Or got the same cush salaries.

You might be surprise to find how many Japanese are proud to work for JAL. If you're working for pride, you don't care as much about success.
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fleetwood77Jan. 11, 2010 - 02:02PM JST

Why not amalgamate the two major Japanese airlines and create JANAL.