March 25 (Reuters) - Debt-ridden Japan Airlines Corp (JAL) (JALFQ.PK) said it will suspend its scheduled freighter flight services by the end of October and would instead use the cargo belly space of passenger flights.
Bankruptcy | Financials | Industrials
The airline's passenger flights provide cargo capacity of about three times the volume available on its scheduled freighter flights, the company said in a press release posted on its website.
The market conditions for international cargo business is expected to remain severe and the new cargo business structure aims for a stable profit that can boost the recovery of its financial standing, the company said.
JAL said it will continue its cargo business by using the belly space of 508 weekly passenger flights plying 56 international routes, and on 134 domestic routes with 904 daily one-way flights.
Earlier in January, JAL filed for protection from creditors with more than $25 billion in debts, making it Japan's biggest-ever bankruptcy by a non-financial firm. (Reporting by Supantha Mukherjee in Bangalore; Editing by Jarshad Kakkrakandy)
If you buy and sell based on random posts from internet message boards you are stupid and will soon be poor. Get all available information before investing. Do your homework.
