Japan Airlines Corp is considering raising about 250 billion yen ($2.76 billion) by March through measures including new shares issuances and borrowings, the Nikkei business daily reported on Sunday.
Delta Air Lines, the world's largest carrier, is in talks to take a minority stake in JAL in a bid to expand its reach in Asia, a source familiar with the matter said on Friday. [ID:nN11471217]
The newspaper reported, without citing any sources, that Japan's top airliner is also planning to seek capital injection from Delta Air and seek money from domestic trading houses and investment funds.
In addition, the cash-strapped airliner is considering raising cash by selling shares of its subsidiaries, Nikkei said.
Japan's national broadcaster NHK reported on Saturday JAL is seeking a capital injection of about 50 billion yen from Delta, as well as several billion yen from Air France-KLM.
Cash-strapped JAL is due to submit a restructuring plan to the government by the end of the month.
JAL secured a 100 billion yen government-backed loan in June and is widely expected to ask for more financial assistance to help it restructure.
JAL posted a 99 billion yen net loss for the April-June quarter and is headed for its second-straight annual loss this business year to March, hit by a downturn in travel and as it struggles to rein in costs.
($1 = 90.69 yen) (Reporting by Chikafumi Hodo; Editing by Sugita Katyal)