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Friday October 23, 11:50 AM
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Some banks ask JAL to reduce capital - Nikkei
TOKYO (Reuters) - Some creditors of Japan Airlines Corp have asked the struggling carrier to reduce its capital, the Nikkei business daily reported on Friday.
One idea floated by the banks and the government is to retire about 99 percent of JAL's common shares, which would require a special resolution by two-thirds of its shareholders, the paper said.
Earlier a source familiar with the matter said JAL's liabilities would exceed its assets by as much as 800 billion yen ($8.8 billion) if it were liquidated.
