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Tuesday October 20, 08:20 PM
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JAL cuts debt relief request, creditors balk - sources
TOKYO (Reuters) - A government-appointed task force crafting a revival plan for Japan Airlines Corp cut its request for debt waivers and debt-for-equity swaps to 250 billion yen ($2.8 billion) from 300 billion, but creditors still rejected the plan, two sources familiar with the matter said.
The airline's creditors rejected the latest restructuring plan mainly because they feel the size of the debt relief is too large and the task force has yet to give a detailed plan of how the government would inject public funds, the sources said.
(Reporting by Nobuhiro Kubo and Taro Fuse; Editing by David Holmes)
