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In today’s Sunday Times
“Japan Airlines near to rescue deal that could leave British Airways in the lurch…
Japan Airlines (JAL), Asia’s largest carrier, is understood to be just days away from inking a deal that could save the company from liquidation and reshape the alliances that anchor the global airline industry.
The deeply troubled airline, which has received two competing US offers of more than $1 billion in capital from American Airlines and Delta Airlines, is expected to make its decision by January 16. The company made a loss of Y63 billion (£420 million) in the last financial year and owes its biggest creditors more than Y500 billion.
The company denied reports in the Japanese media yesterday suggesting that it had already decided to ally itself with Delta. Under such a move, JAL would leave in the lurch its partners in the oneworld alliance — American and British Airways — and hugely strengthen the rival Skyteam alliance.
However, speculation that JAL may be tending towards signing a deal worth $1.02 billion (£630 million) with Delta was stoked by a weekend interview with Haruka Nishimatsu, JAL’s chief executive, in which he said that Delta had more Asian-focused partners in its alliance and that Asia represented some of JAL’s best prospects for growth….”