Japan Airlines (JAL) is poised to secure a US$2 billion in emergency loans from creditors such as the state-supported Development Bank of Japan, Dow Jones reported.
The airline's three main private-sector banks ¨C Mizuho Financial Group, Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking ¨C and the Japan Bank for International Cooperation, also are set to join in the rescue.
JAL is expected to announce more cuts on salaries and other costs in exchange for the funding. |
