American Airlines, along with fellow oneworld Alliance founding members British Airways, Qantas Airways, and Cathay Pacific Airways, today outlined US$2 billion in commercial benefits to Japan Airlines (JAL) over three years.
The enhanced, broad-based commercial offer would serve as a key component of a comprehensive, government-led restructuring plan for JAL. As part of the proposal, JAL would remain a key partner in oneworld, a collection of 11 of the most respected brands in the airline industry.
The proposal also includes a pledge – if welcomed – to offer JAL guidance and expertise from partners that have successfully executed airline restructurings.
“This proposal demonstrates oneworld’s extraordinary commitment to JAL. It brings stability and certainty to Japan Airlines at a time when it is most needed, as it faces turbulent times over the coming weeks and months,” said Tom Horton, American’s executive vice president of finance and planning and CFO. “We believe our proposal is in the best interests of JAL and its employees and customers, and the government and taxpayers of Japan. It provides JAL the greatest long-term value at the lowest risk.”