JAL could go public again by Sept 2012

Japan Airlines (JAL) could relist on the Tokyo Stock Exchange by September 2012, Kyodo News reported Wednesday, as the aviation company undergoes state-backed rehabilitation. Enterprise Turnaround Initiative Corp (ETIC), the organisation overseeing JAL's rehabilitation, estimates the company could put in its relisting application in April, according to the same source. September 2012 would be the possible month for JAL to go public again, depending the market at the time. JAL completed bankruptcy proceedings in March this year after filing for a failure in January 2010 with debts of about 2.32 trillion yen ($28 billion) -- one of Japan's biggest-ever corporate failures. Under government supervision JAL carried out massive job and route cuts, guided by charismatic businessman Kazuo Inamori, in order to continue flying. The carrier temporarily reduced flights and switched to smaller aircraft in response to the decline in traffic after the deadly earthquake and tsunami that hit northern Japan on March 11 and triggered a nuclear crisis. For domestic operations, JAL also reduced commercial trips to cut costs after the disasters and operate special flights to northern airports for emergency crews and supplies.