Struggling Japan Airlines Corp. plans to sell all of its group’s hotel operations to Hotel Okura Co. for about ¥5 billion to ¥6 billion as part of its restructuring, sources said Saturday.
JAL, which had earlier planned to sell only its hotel operating unit JAL Hotels Co., will aim to strike a deal on the new plan with the major hotel operator by the end of this month, the sources said.
JAL Hotels alone operates 41 hotels in Japan and 17 hotels overseas, mainly in cities JAL flies to and from. JAL also engages in hotel operations through other group companies.
The airline plans to cut about 16,000 jobs within the group by the end of fiscal 2010 ending next March as part of its broader goal of cutting a total of some 19,300 jobs by the end of fiscal 2012 to March 31, 2013.
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