When is a bailout not a bailout? When it has something to do with JAL it seems.
Whilst the Japanese Government has promised no new loans to it, it has however promised to extend previous loans from 1 Billion Yen to 2 Billion Yen.
Thats a lot of yen!
This still doesn’t solve the long term problems with JAL (least of all the 1.5 TRILLON Yen Debt Pile – and growing), but it might tide it over until it can decide to go with American or Delta.
In the short term however – if nothing comes to past and there are no rapid improvements – JAL could well find itself off to Bankruptcy protection land…