Land, Infrastructure and Transport Minister Chikage Ogi expressed her readiness Friday to provide financial support for the nation's airlines to help them cope with the added financial burden of compensation payments and increased security.
"We're considering taking measures equivalent to those taken by foreign authorities, taking into consideration airlines' role in serving the public interest," Ogi told a news conference.
On Thursday, a group of 12 major airlines asked the government for assistance as insurance companies around the world have declared they will slash the maximum limit of damage compensation to $50 million from $2 billion in the wake of the terrorist attacks in the United States.
Ogi also said the ministry will try to draw up an estimate by Tuesday of airlines' total losses due to the terrorist attacks and study measures that can be taken.
"We'd like to make sure and quickly give (airlines) government guarantees" to make up for the reduced compensation payment limits by insurers, she said.
Ogi added, however, that falls in revenue due to fewer passengers is a different issue and the government will consider separately whether assistance should be given to help make up for sales losses.