Un soutien d'un milliard d'USD pour JAL du gouvernement japonais.
Les détails sur Business Timesonline
Japan Airlines, the loss-making Asian giant, is to receive a $1 billion government-backed loan to tide it over while management struggles to concoct a “crisis plan” to save the
But analysts said that the former state-owned carrier was unlikely to undertake the sort of drastic reform it needs because of pressure from the Government to remain in the role of
Unusually for Japan, the loan will come with the overt condition that JAL visibly improves the way the company is run – to the satisfaction of the Government itself, much like the
company operated before privatisation.
That restructuring process is expected to see a significant portion of its existing route network “scrutinised”, though not necessarily cut back, along with other long-overdue
changes to management structure.
As the biggest carrier in Asia, JAL has suffered directly from the financial ravages of the global economic downturn, a large-scale exodus of foreign bankers and executives from Japan, and Tokyo’s diminishing position as a world financial centre. But JAL has also suffered from a series of unspoken guidelines that have defined the way its route network is constructed, particularly since its domestic rival, All Nippon
Airways, has cut dozens of domestic and international routes in an attempt to become profitable. On occasions where JAL has threatened to close a domestic route, local and central governments have applied pressure on management to abandon those plans, and JAL has yielded.
To JAL’s additional misfortune, efforts by the Government to boost regional economies throughout Japan have often involved constructing large airports in places that barely merit daily connections to Tokyo and other major cities.
JAL is effectively forced to play the role of public transportation system, said Yoshitomo Aoki, an aviation industry author and analyst, “so even though very drastic measures need to be taken by JAL, that burden of public service and the pressure from the land ministry means it won’t happen”.
Highlighting that likely turn of events, Kazuyoshi Kaneko, the transport minister, described JAL as “an extremely important company for our country’s economy, society and people”.
The loans themselves will come from the state-backed Development Bank of Japan
, though Kaoru Yosano, the finance minister, added that the Government itself would impose conditions. The transport ministry, he added, will give JAL “strong instructions” on how to
improve its management.
JAL has already requested about Y200 billion in government loans under the programme begun during the depths of the recession earlier this year. JAL’s calls for the cash injection
come as it is predicting a second consecutive year of losses in the Y60 billion range. http://business.timesonline.co.uk/tol/business/industry_sectors/transport/article6553359.ece