Japan Airlines President Haruka Nishimatsu yesterday told former employees that the company's pension benefits must be cut significantly to enable it to become sustainable long-term. Troubled JAL is attempting to enter into a government-backed restructuring and is negotiating with Delta Air Lines and American Airlines about one of those carriers potentially taking a stake (ATWOnline, Nov. 19). Its pension funding deficit, estimated to be more than ¥300 billion ($3.37 billion), is making ...

Subscribe to Access this Entire Article

"Japan Airlines proposes slashing pension benefits more than 40%" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.