Japan Airlines Corp. is asking its creditor banks, including the government-backed Development Bank of Japan and Mizuho Corporate Bank, to funnel up to 400 billion yen into its capital base by purchasing preferred shares and other steps, sources familiar with the matter said Thursday.
The airline wants to secure consent from the creditors to enhance its financial profile by late June, when its general shareholders' meeting will convene, the sources said.
JAL unveiled a midterm business revival program in February calling for cutbacks in expenses and a workforce reduction program to revive profitability.