The Japanese airline company Japan Airlines (JAL), at the moment declared in bankruptcy, will remain in the Oneworld alliance deciding to ally with American Airlines and rejecting the offer from Delta Air Lines.
The new management team of JAL and the semi-public organism that handles the company recovery, decided finally that it would be a financial risk to leave the Oneworld alliance to which it was added in 2007, and to become member of the SkyTeam alliance as it would imply an agreement with Delta. This decision of the Japanese airline was quite unexpected since Delta was widely considered to be favorite. American Airlines and Delta Air Lines have been attracted by the lucrative connections of JAL in Asia, competing to sign an alliance with the Japanese company and even being interessted to take a participation in the company capital structure. It is emphasized that American Airlines and JAL will be concentrated now in constructing of an agreement of joint business that can provide to JAL an important growth of income beyond the stability that Oneworld offers at present. In the next days, American Airlines will work with the new management team of JAL to complete a joint request of anti-trust immunity (ATI) in the Pacific region that will be presented to the Department of Transport of the United States.
All members of the Oneworld alliance are satisfied by the confirmation that JAL will remain inside the alliance as well as by its intention to amplify its relations with other partners from the group. This way the Oneworld alliance makes sure the participation of the of Asia Pacific regional leader inside the global alliance that brings together eleven of the world's biggest and best airlines: American Airlines, British Airways, Cathay Pacific, Finnair, Iberia, JAL, Lan Chile, Malev, Mexicana, Qantas and Royal Jordanian.
Japan Airlines, the first airline of Asia, declared bankruptcy the past 19 of January and it will be put under a recovery plan that, according to the Japanese government, will include suspension of about 15,600 employees. JAL was declared in suspension of payments before the court of Tokyo to benefit from the protection of the law of bankruptcies.
LINKS:
JAPAN AIRLINES http://www.jal.com/en/
AMR CORPORATION - AMERICAN AIRLINES: http://www.aa.com
DELTA AIR LINES INC. http://www.delta.com
ONEWORLD ALLIANCE http://www.oneworld.com
TICKERS:
JAPAN AIRLINES OTC: JALSY (ADR) PINK: JALSY.PK (ADR)
AMR CORPORATION - AMERICAN AIRLINES NYSE: AMR
DELTA AIR LINES INC. NYSE: DAL
I'd like to correct the statement that JAL is Asia's first airline. That honor belongs to Philippine Airlines. PAL was established in February 1941 and started her operations in March of the same year whereas JAL was founded a decade later. In fact, JAL leased a DC-3 for 3 days from PAL and was used for invitational flights prior to beginning of their scheduled flight services in October 1951. The proper statement should be, "Japan Airlines, one of Asia's premier airline, declared bankruptcy...". Please be careful next time when stating historical facts. Thank you!
ReplyDeleteSources:
www.jal.com/en/history/flash/ "History of JAL", retrieved 02/11/2010.
http://www.philippineairlines.com/about_pal/milestones/milestones.jsp "Milestones in the History of PAL, retrieved 02/11/2010.