UPDATE 1-JAL to cut 45 flights in FY10 – Nikkei

April 29 (BestGrowthStock) – Debt-ridden Japan Airlines Corp
(JALFQ.PK: ) will cut 30 domestic and 15 international flights by
the end of next March, the Nikkei business daily reported.

The biggest cut in the airline’s history will shrink its
domestic routes by 30 percent and international routes by 40
percent, compared with fiscal 2008 levels, the daily said.

In rehabilitation plans drawn up in January, the company
earmarked 17 domestic and 14 international routes for the
scrapheap, but with its earnings still in the doldrums, the
airline has stepped up cutbacks, the daily said.

However, JAL could miss its June-end deadline for
submitting a rehabilitation plan by as much as two months as it
deals with local governments opposed to flight cuts.
[ID:nSGE63P0RX]

Earlier, the struggling airline’s main lenders said they
would not recommence lending unless the company drastically
revamps unprofitable flight operations. [ID:nSGE62U0LE]

Stock Market Report

(Reporting by Vinay Sarawagi in Bangalore; Editing by Don
Sebastian)

UPDATE 1-JAL to cut 45 flights in FY10 – Nikkei