Japan Airlines

JAL denies that it's in negative net worth

Image via mynetbizz.com

TOKYO - Japan Airlines Corp. said Wednesday that a report that the company's liabilities exceed its assets is untrue.

The Nikkei reported in its Wednesday morning edition that a government task force, which directly reports to the transport minister, says JAL's liabilities exceed its assets by at least Y250 billion.

The struggling airline is now drawing up a restructuring plan together with the task force.

As of the end of June, JAL had interest-bearing liabilities of Y840.4 billion, the company said in August when it released earnings for the April-June quarter.

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