Japan Airlines might not be able to enhance its capital in the tune of Y50B by End-March
Japan Airlines might not be able to enhance its capital in the tune of Y50B by E

Chairman of Japan Airlines Corp. named Kazuo Inamori said on Wednesday that the struggling company might not be able to enhance its capital by fifty billion yen by the end of March as it initially was looking for.

The carrier has plans of increasing its capital by fifty billion yen on top of a capital injection of three hundred and fifty billion yen by the government-supported Enterprise Turnaround Initiative Corp. to better tackle with sudden changes in its business environment such as a sharp decline of passenger demand.

Japan Airlines Corp. will continue to put in its efforts to increase its capital by the targeted amount even if it is unable to do so by the end of March, he stated while addressing a press conference.

Former employees of Japan Airlines Corp. filed case against the delisted airline on Wednesday looking for overturning their layoffs, as reported by the Kyodo news agency. The move came a year after JAL had filed for bankruptcy protection.

The suit was filed by as many as one hundred and forty six former pilots and flight attendants, equivalent to ninety percent of employees who got dismissed from Japan's flag carrier at the end of last year. The action made it the biggest such legal action taken in recent years in terms of the number of plaintiffs involved, as stated by the report.

The one hundred and forty six plaintiffs stated that their dismissal was not required as the airline known as JAL made operating profit which amounted to one hundred and forty billion yen from the month of April till the month of November in 2010, as stated by a document submitted to the Tokyo District Court.

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