Japan Airlines Co. and Japan Air System Co. on Tuesday unveiled details of their upcoming merger, saying they plan to cut 73 billion yen in costs by fiscal 2005 by shedding 3,000 workers and sharing aircraft and facilities.
A holding company, to be named Japan Airlines System Corp., will be set up on Oct. 2 with initial capital of 100 billion yen and a staff of 100, based in Tokyo.
Under the holding company, JAL and JAS -- currently the nation's first and third largest carriers -- will be reorganized by spring 2004 into three operating companies that will separately handle international flights, domestic flights and cargo operations.