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JUNE 18, 2010, 2:57 A.M. ET.

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chickenvestor   Friday, 06/18/10 08:00:44 AM
Re: chickenvestor post# 514
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JUNE 18, 2010, 2:57 A.M. ET.

Japan Airlines Likely To Need Y100 Bln More In Financial Aid - Source

TOKYO (Dow Jones)--Japan Airlines Corp. will likely need another Y100 billion in financial aid as it now expects larger writedown losses from asset valuations, a person familiar with the matter said Friday.

The airline, which filed for bankruptcy protection in January, is preparing to submit a restructuring plan to the Tokyo District Court. But JAL and a state-backed turnaround body--the Enterprise Turnaround Initiative Corp. of Japan--are "reassessing the value of assets such as fleets," the person said.

JAL last month postponed by two months the submission of its restructuring plan to the court, from an initial end-of-June deadline, as it seeks to flesh out the details of the plan.

-By Yoshio Takahashi, Dow Jones Newswires; +81-3-6269-2791; yoshio.takahashi@dowjones.com

http://online.wsj.com/article/BT-CO-20100618-701843.html?mod=WSJ_latestheadlines



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