Japan Airlines Cutting Jobs, Hopes to Wrap Up Delta and AMR Tie-Up Talks (DAL,AMR)

9/15/2009 - Japan Airlines said Tuesday that it hopes to conclude the talks to tie-up its business with foreign carriers by mid-October, and will cut 14% of its employees as a part of a large restructuring plan, according to an AP report. The CEO of Asia's largest airline, Haruka Nishimatsu, said that the 6,800 job cuts would go through March 2012. He declined to give further information on pending talks with Delta Air Lines (NYSE:DAL) and AMR Corp (NYSE: AMR), both of which are vying for a significant stake in the ailing company.

Write to Chip Brian at cbrian@tradethetrend.com

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Related terms: airline, asia, business, japan, market, nyse, restructuring, securities