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BA joins consortium in Japan Airlines rescue

23 September 2009

British Airways is understood to have joined Qantas and American Airlines in a three-strong investment consortium bidding to drag Japan Airlines (JAL) back from the brink of financial collapse.

Other offers to buy stakes in JAL are believed to have come from Korean Airlines and Air France-KLM.

The rehabilitation of JAL, which is bathed in red ink and has been allowed to operate with huge inefficiencies, poses a severe political challenge to the new administration of prime minister Yukio Hatoyama, who was only inaugurated two days ago.

source: Times Online

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