JAL to raise 500 bil. yen amid pandemic struggles

Japan Airlines Co. said Friday it hopes to raise 500 billion yen ($4.7 billion) from lenders to secure its financial standing as it navigates a severe downturn in demand for travel due to the coronavirus pandemic."We are looking to secure 500 billion yen," JAL President Yuji Akasaka told a general shareholders' meeting, adding that the airline has already borrowed 200 billion yen from financial institutions.The carrier posted a group net loss of 22.9 billion yen for the January-March period, its first quarterly loss since it relisted in 2012 following its bankruptcy filing in 2010.Like othe…READ FULL ARTICLE