Japan Airlines Co is discussing the possibility of securing financing totaling $2.8 billion from its lenders to cushion the financial blow of the coronavirus outbreak, public broadcaster NHK said on Saturday.
It was also considering securing special emergency funding from the Development Bank of Japan , it added.Global airlines are struggling to pay fixed costs as the majority of their planes have been grounded due to traveling restrictions put in place to control the spread of the coronavirus.
Japan’s government has promised financial support for the country’s airlines as part of a coronavirus stimulus package equivalent to a fifth of Japan’s annual GDP, although it has yet to say how much they will receive. JAL and its rival ANA Holdings Inc are not government owned, but ties with regulators are close, with officials and politicians willing to extend financial help in troubled times to support a domestic aviation network which connects an island archipelago stretching almost 3,000 kilometers .
Earlier this month, Reuters reported that ANA is seeking a $2.8 billion credit line from the DBJ, and is working with private banks to bring forward $930 million in borrowing that had been scheduled for June.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Japan shames 'pachinko' gambling parlors that refuse to shutdownJapan shames 'pachinko' gambling parlors that refuse to shutdown amid the coronavirus pandemic.
Leer más »
Japan tilts at self-sufficiency windmillPrime Minister Shinzo Abe is subsidising firms to bring production back from China. Others may copy the idea. His $9 bln budget for the drive suggests the push is tentative. Reshoring has a bad track record. Duplicate chains and more inventory are the answer but will be costly.
Leer más »
Official HIGE DANdism Holds Top of Japan Hot 100
Leer más »
Coronavirus live updates: Japan confirms more cases on cruise ship; Bill Gates on stopping the pandemicJapan has confirmed 40 more cases on the Italian cruise ship Costa Atlantica currently docked in the western city of Nagasaki for repairs, reported Japanese broadcaster NHK.
Leer más »
Japan stocks set to dip as hopes of coronavirus treatment reportedly take a hitThe Financial Times reported overnight — citing documents accidentally published by the World Health Organization — that Gilead Sciences' drug remdesivir did not improve coronavirus patients' condition.
Leer más »
Tesla adds management chief $1.5 trillion Japan pension fund to board - Business InsiderThe former investment banker's appointment to Tesla's board could mark an end to a tumultuous year-and-a-half for Elon Musk's board of directors.
Leer más »