TOKYO: Japan Airlines Co, the carrier that exited bankruptcy last year, is planning an initial public offering that may raise as much as 1 trillion yen (US$13bil) as early as September, two people familiar with the matter said.
The government-backed fund that holds about 97% of JAL’s voting rights and other investors are considering selling 500 billion yen to 1 trillion yen of shares, said the people, who declined to be identified because the process is private. Taro Namba, a spokesman for Tokyo-based JAL, declined to comment on the size of the planned sale.