A task force of business experts reporting to Seiji Maekawa, Minister of Land and Transportation completed an outline of business reconstruction plan for Japan Airlines mainly based on financial support of 550 billion yen on October 24. The plan will be presented to main banks led by DBJ and when being agreed by them, a path for JAL's salvage would be finalized.
The plan calls for capital reinforcement of 300 billion yen including public funding and request for commercial banks for debt waiver worth 30 billion yen. Financially crunched JAL needs a bridge loan of 180 billion yen as well, and the plan presumes this loan to be guaranteed by the Japanese government.
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