Japan Airlines Corp. said Friday it plans to raise ¥151.5 billion in capital by selling preferred shares to 14 creditors and business partners to reinforce its financial strength and further improve profitability.
Unveiling its midterm plan for the period through business 2010, the airline said it would use the money to purchase more fuel-efficient airplanes and equipment to improve customer convenience.
JAL announced in February it is on course for a profit for the business year ending March 31, after two consecutive years of losses brought on by rising fuel costs and safety lapses that hurt its reputation.
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