Japan Airlines said Wednesday it has agreed to set a share swap ratio of one to nine with Japan Air Systems when the two carriers integrate operations under a joint holding company.
The ratio means the holding company will allocate one share for each JAL common share and nine shares for each JAS common share.
The face value of JAL stock is 50 yen and that of JAS stock is 500 yen.
Other details of the deal, such as the name of the holding company, will be announced by the end of January, JAL said.
On Nov. 12, JAL and JAS announced a basic agreement to integrate their operations in September to create the sixth-biggest global carrier in terms of passenger miles.