Japan Airlines (JAL) has received a joint offer of assistance from American Airlines, British Airways and Qantas to help it through its financial difficulties, according to Asian media reports today.
Executives from the three carriers visited JAL's headquarters on Wednesday to present an offer including debt guarantees, advice on restructuring, merging some offices and adjusting the numbers of trans-Pacific routes, the report in the Nikkei business daily said.
American Airlines is also considering investing in JAL, possibly taking a stake worth tens of billions of yen, the report added, quoting unnamed informed sources.
JAL, Asia's largest carrier, unveiled earlier this week the outline of an emergency revival plan under which it would cut 6,800 jobs, slash flights and seek a tie-up with a foreign carrier.
The Japanese airline, which lost more than $1 billion in the April-June quarter, has said it aims to seal a tie-up with an overseas carrier by mid-October.
Delta Air Lines, as well as Korean Air, are also reportedly considering taking a stake in JAL. European carrier Air France-KLM is also in talks with the Japanese carrier as a possible partner, a source said.
Delta and Air France-KLM are part of the SkyTeam global airline alliance, while JAL, American Airlines, British Airways and Qantas belong to the rival Oneworld grouping.
Japan's new government said yesterday that it would overhaul the restructuring process for JAL, which is seeking state financial aid, but ruled out allowing it to collapse.
