Japan Airlines to be relisted
Japan Airlines to be relisted

The Tokyo Stock Exchange said today it had approved the relisting of Japan Airlines, the flag-carrier that went bust in one of the nation's biggest-ever bankruptcies more than two years ago.

JAL, which went bankrupt in January 2010 and its shares delisted the following month with debts totalling Y2.32 trillion ($A28.43 billion) yen, is to list again on September 19, the exchange said.

The airline continued to fly during its period off the stock exchange and undertook an overhaul that included massive job and route cuts.

JAL's market value after the float is expected to exceed 500-600 billion yen, Jiji Press news agency said, well above the 350 billion of public money that was invested to keep the carrier going.

The listing approval came a day after the company announced that its April-June quarter net profit had more than doubled to 26.9 billion yen .

Cost cutting and improved productivity were credited by the company for the result, which was up from a 12.7 billion yen net profit a year ago. It said sales had risen 12.5 per cent to 286.7 billion yen.

The West Australian

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