Japan Mulling $7.8 Billion Guarantee to JAL: Source

Japan is looking at guaranteeing about $7.8 billion in funding to Japan Airlines Corp <9205.T>, a government source said on Monday, easing concerns that the carrier could run out of funds and helping send its shares 8 percent higher.

The 700 billion yen in guarantees would be included in an extra budget expected to be compiled this week and may cover investments and loans, the source said, speaking on condition of anonymity.

Debt-laden JAL, which is seeking its fourth state bailout since 2001, has warned it could face bankruptcy unless it addresses a pension shortfall of about 330 billion yen.

Read Full Article from ABC News

- Posted: 2009-12-06 21:48:18

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