Japan Airlines Corp. President Haruka Nishimatsu said Monday he has proposed cutting pension benefits by around 30 percent for retired JAL workers and by more than 50 percent for current employees.

Nishimatsu made the proposal during a meeting between JAL executives and retired employees over pension matters.

He urged the pensioners to approve drastic cuts in their benefits as the cash-strapped carrier desperately seeks public funds to stay afloat.