Japan: Government to intervene to save Japan Airlines

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As a result of falling passenger numbers and the effect of high oil prices, the Enterprise Turnaround Initiative Corporation is set to take over the management of Japan Airlines (JAL).

After having already announced the loss of 6 800 jobs, this number was said to have been increased to 13 000 by JAL, according to the Kyodo news agency.

The Enterprise Turnaround Initiative Corporation uses government funding to buy a company’s debt and then have specialists advise it on restructuring the company.

Source: BBC.co.uk/26.10.09

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