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JAL slashes jobs, sells hotels, and adds routes

Date Posted: 2010-08-12

Japan Air Lines, now in the midst of a state-directed financial makeover, says it will cut its work force by 19,133 over the next couple of years.

The troubled airline says it will expand its early retirement program to shed enough jobs to stabilize the work force at 32,729 by March 2015. The airline, which filed for bankruptcy protection in January, wants to sell two subsidiary operations at Chubu and Kansai Airports as it aims to emerge from the bankruptcy by 2011.

JAL plans to purchase 65 fuel-efficient passenger aircraft over the coming 3-4 years, and will expand its codeshare agreement with Finnair, both members of the Oneworld Alliance. Starting this month, JAL began codeshare on flights operated by Finnair between Helsinki and seven European cities of Berlin, Dusseldorf, Hamburg, Munich, Brussels, Warsaw and Gothenburg.

The airline confirms it is spinning off most of its shares in JAL Hotels Co., to Hotel Okuda Co., as it moves to get out of the hotel business and focus on flying airplanes. JAL will sell 79.6% of its shares next month to the Tokyo-based luxury hotel chain for an estimated 6 billion. The Hotel Okura group operates 16 hotels in Japan and five overseas, while JAL Hotels operates 39 hotels in Japan and another 18 overseas under the JALCITY and Nikko brand names.

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