Struggling firm Japan Airlines had recently been approved for a government loan that will allow the airline to stay in the air. The bailout will be the 4th time since 2001 that the government funded Development Bank of Japan has rescued the troubled airline. The main problem for the airline is its huge levels of debt and pension fund shortfall.
Shares in the company have plummeted since the start of the year, having fallen by more than half their original value during that period of time. The share prices for airlines in general are less than healthy, thanks to many firms struggling in times of recession. Shares for Japan Airlines have dropped by nearly 10% after one of Japans largest brokers had announced it had sold its entire stock in the airline. In the months between July and September, the airline last 32.3bn yen (£220m or $364m). It is estimated all in all that it holds a debt of $15bn.
This latest rescue package may not be the last the airline has to go through as falling passenger numbers are also starting to take their toll on the aviation industry.