JAL’s shares have once again taken a nosedive as people fear it’s heading into bankruptcy – even though American has increased its bid to $1.3 Billion and it’s employees have voted to take cuts in the pensions scheme.
With further cost cutting concessions – The Enterprise Turnaround Initiative Corporation of Japan will happily inject new cash – providing JAL goes bankrupt, and that it sheds 1/3rd of its staff in the process.
A final decision on JAL’s future is approaching towards the end of January – with Delta and American Airlines left by the side if it decides bankruptcy is the only solution.
What could this all mean? JAL could well be the shadow of it’s previous operation – and ANA taking up the remaining slack. Whatever happens – the staff are the ones that will have to pay the price…
