8:59 am - Thursday April 24, 2014

Japan Airlines plans to re-list shares in September

After being known for Japan’s biggest ever bankruptcies, Japan Airlines is now aiming to re-list its shares by the month of September, 2012. The shares of the airlines were delisted in the month of February 2010.

The airline will be filing an application with the Tokyo Stock Exchange this month with plans to have its stock publicly traded again on September 19. The Japan Airlines went bankrupt in January 2010 with debts totalling 2.32 trillion yen.

But still the airline continued to fly during an overhaul that included massive job cuts and routes. The bankrupt protection exited last year and logged an annual net profit of $2.3 billion in the fiscal year to March 2012.

The market value of the airline after the float will be between 600 billion and 700 billion yen, taking it ahead of the rival All Nippon Airways market capitalization of roughly 550 billion yen. Ten estimated value of Japan Airlines would be about twice the 350 billion yen in public funds which were used in the restructuring of the airline. On the other hand the spokes person of the carrier while talking to the reporters said that no official decision has been made on a new listing.

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