Japan Airlines Corp. plans to take back its earlier request to its main lenders for financial aid and try to rebuild its business on its own for the time being, the Asahi Shimbun reports. According to the report, recent recovery signs in the company’s mainstay airline operations made it decide to wait and see how its July-September earnings turn out before contemplating further aid requests.
The company’s April business results showed that demand from business passengers was strong. Although the airline had cut its number of seats by 5% or more compared with the previous year, the number of passengers dropped only 2.6%, showing that demand was recovering. The firm also expects to have outperformed its revenue target in May.