Japan Airlines to relist shares
Saturday, January 7, 2012
If the sale goes into high-end estimates, it will make JAL the largest airline in the world by market value. It will also be the largest IPO in Japan since the 2010 listing of . However, Senri Sasahara, chief executive officer of Innovative Advisor Corp, said “The amount sought may be a bit too ambitious.”
JAL enteredprotection in January 2010 and was later given a government bailout. When it was delisted from TSE, it cut one-third of its workers, and reduced the benefits of remaining employees. JAL emerged from bankruptcy in March 2011. Since then, it has posted a record ¥188.4 billion (US$2.4b, €1.9b) in profit for fiscal year 2010.
JAL faces growing competition from discount airlines, such asand . In response, JAL entered into a joint venture to form a low-cost carrier with .