{"id":121177,"date":"2021-09-10T03:46:33","date_gmt":"2021-09-10T03:46:33","guid":{"rendered":"https:\/\/fin2me.com\/?p=121177"},"modified":"2021-09-10T03:46:33","modified_gmt":"2021-09-10T03:46:33","slug":"japan-airlines-finalises-2-7-billion-raising-to-position-for-post-covid-19-era","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/japan-airlines-finalises-2-7-billion-raising-to-position-for-post-covid-19-era\/","title":{"rendered":"Japan Airlines finalises $2.7 billion raising to position for post-COVID-19 era"},"content":{"rendered":"<figcaption>FILE PHOTO: Japan Airlines (JAL) planes sit on the tarmac at New Chitose Airport, in Sapporo, Hokkaido, Japan May 4, 2021. REUTERS\/Issei Kato<\/figcaption><p>(Reuters) -Japan Airlines Co Ltd (JAL) said on Friday it had finalised plans to issue 300 billion yen ($2.73 billion) of hybrid loans and subordinated bonds to help position it for a changed business environment due to the pandemic.<\/p>\n<p>It will raise 200 billion yen from hybrid loans and 100 billion from subordinated bonds, the airline said in a statement to the stock exchange.<\/p>\n<p>JAL had announced initial plans for the raising on Thursday but provided more details of the funding mix and uses on Friday.<\/p>\n<p>\u201cWe have to make continuous efforts to strengthen the balance sheet further and enhance its financing capability to address drastic changes in the business environment anticipated for the post-COVID-19 era,\u201d JAL said.<\/p>\n<p>The airline said the proceeds from the raising would be used to introduce Airbus SE A350-1000s as its new flagship aircraft, helping it to reduce carbon emissions on international flights.<\/p>\n<p>JAL will also renew its revenue management system for domestic routes and repay other debt with the raising\u2019s proceeds, it added.<\/p>\n<p>The airline last month said it expected its cash burn rate to fall to around 5 billion yen a month in the second quarter ending Sept. 30 from 10 billion to 15 billion yen a month in the first quarter.<\/p>\n<p>($1 = 109.7400 yen)<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/japan-airlines-fundraising\/update-1-japan-airlines-finalises-2-7-bln-raising-to-position-for-post-covid-19-era-idUSL1N2QC05W\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: Japan Airlines (JAL) planes sit on the tarmac at New Chitose Airport, in Sapporo, Hokkaido, Japan May 4, 2021. REUTERS\/Issei Kato(Reuters) -Japan Airlines [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":121176,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Japan Airlines finalises $2.7 billion raising to position for post-COVID-19 era - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/japan-airlines-finalises-2-7-billion-raising-to-position-for-post-covid-19-era\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Japan Airlines finalises $2.7 billion raising to position for post-COVID-19 era - Fin2me\" \/>\n<meta property=\"og:description\" content=\"FILE PHOTO: Japan Airlines (JAL) planes sit on the tarmac at New Chitose Airport, in Sapporo, Hokkaido, Japan May 4, 2021. 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