JAL considers sale of cargo unit
Japan Airlines is considering selling a 50 percent stake in its cargo business as it seeks to improve a faltering bottom line hit by rising oil and labor prices.
Japanese and international media outlets reported this week that JAL is also looking to raise $1.3 billion from creditors and business partners. The sale of its cargo business could net as much as double that amount.
A Reuters report suggested that JAL has been passed by Japanese rival All Nippon Airways because ANA has employed a strategy of using smaller, more fuel efficient planes in recent years.
JAL considers sale of cargo unit
