When Japan Airlines filed for bankruptcy protection last month with group liabilities of ¥2.32 trillion, it left a lot of passengers wondering what was going to happen to the airline—and, more importantly, to their reservations and frequent flyer points. According to the state-backed Enterprise Turnaround Initiative Corp (ETIC), which is overseeing JAL’s rehabilitation, the airline will continue flying, but on considerably fewer domestic and international routes. Regular passengers can take comfort in ETIC’s promise that all mileage accumulated in the JAL Mileage Bank will be safe, and all reservations and flight tickets—both international and domestic—remain valid. Airport lounge services will also be unaffected. JAL has received offers for a rescue tie-up, including direct investment, from two separate groups led by US airlines. However, ETIC—which will invest ¥300 billion in the airline under a three-year restructuring scheme—has said that for the time being, it will not allow JAL to have any capital tie-up with other carriers. See www.jal.co.jp/en for updates.
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