British Airways owner IAG said on Thursday it would consider investing in Japan Airlines' (JAL) planned initial public offering later this year.

JAL has done a great job in restructuring its business. IAG would look closely at investing in JAL and wouldn't rule it out at this stage, IAG said in a statement emailed to Reuters.

JAL is planning to tap IAG, formed by the merger of British Airways and Iberia, as well as Australia's Qantas and other members of the Oneworld alliance, as possible investors in its IPO, Reuters reported earlier on Thursday.

(Reporting by Matt Scuffham; Editing by Neil Maidment)