Japan Airlines Co. said Thursday it planned to raise around ¥300 billion ($2.7 billion) of subordinated loans and hybrid financing to help it weather the prolonged impact of the COVID-19 pandemic.
Details of the funding plan will be announced on Friday, the company said in a statement after news organizations earlier reported on the plan citing sources.
"We are considering various ways to secure financing, in order to prepare for the long-term effects of the spread of coronavirus infections and in order to achieve the growth targets laid out in JAL's medium term business plan," the airline said.