Japan Airlines on March 25 will redeem ¥79.7 billion of convertible bonds due to mature in 2011, the company said in a stock exchange filing cited by Bloomberg News, which said investors had until Feb. 23 to convert the ¥100 billion of bonds into stock but that shares in JAL closed 32% lower than the bonds' conversion price. JAL said it is seeking a ¥60 billion credit line to help repay the bonds, according to Bloomberg.

Subscribe to Access this Entire Article

"Printer-friendly" 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.