American's win "appears to have been accomplished at far less cost in the form of capital infusions than many expected," said Douglas Runte, managing partner at Piper Jaffray & Co in New York He doesn't rate Fort Worth, Texas based AMR Japan Air's decision ends a struggle that began last year between American and Delta, which sought to entice the Tokyo based carrier to switch to the SkyTeam airline alliance Japan Air filed for bankruptcy protection last month "It's the right choice by Japan Air," said Makoto Murayama, a Nomura Securities Co analyst, in Tokyo 
Share:  American's win "appears to have been accomplished at far less cost in the form of capital infusions than many expected," said Douglas Runte, managing partner at Piper Jaffray & Co in New York He doesn't rate Fort Worth, Texas based <span class="company">AMR</span> Japan Air's decision ends a struggle that began last year between American and Delta, which sought to entice the Tokyo based carrier to switch to the SkyTeam airline alliance<span class="sent"> Japan Air filed for bankruptcy protection last month "It's the right choice by Japan Air," said <span class="analyst">Makoto Murayama</span>, a Nomura Securities Co analyst, in Tokyo</span> Tweet this 

Nomura senior analyst Makoto Murayama said he believes the restructuring will be successful and allow JAL to "rehabilitate" itself 
Share:  <span class="sent">Nomura senior analyst <span class="analyst">Makoto Murayama</span> said he believes the restructuring will be successful and allow <span class="company">JAL</span> to "rehabilitate" itself</span> Tweet this 

But Makoto Murayama, a senior analyst at Nomura Securities Co, said JAL could change the service, including by altering the exchange rate between mileage points and credit card shopping points "It is a burden for JAL to give away free flights, so they may try to reduce that," he said 
Share:  <span class="sent">But <span class="analyst">Makoto Murayama</span>, a senior analyst at Nomura Securities Co, said <span class="company">JAL</span> could change the service, including by altering the exchange rate between mileage points and credit card shopping points</span> "It is a burden for <span class="company">JAL</span> to give away free flights, so they may try to reduce that," he said...<span class="sent">But <span class="analyst">Makoto Murayama</span>, a senior analyst at Nomura Securities Co, said <span class="company">JAL</span> could change the service, including by altering the exchange rate between mileage points and credit card shopping points</span> "It is a burden for <span class="company">JAL</span> to give away free flights, so they may try to reduce that," he said Tweet this 

Aside from immunity, the two alliances are also jousting over the benefits each tieup would offer JAL is expected to drastically cut operating costs if it partners with Delta as they have many overlapping US Japan flights "The cost cutting airlines can do from just being in the same alliance is limited," said Makoto Murayama, senior analyst at Nomura Securities Co, adding that if JAL and Delta cannot get immunity, the partnership is not so worthwhile Mitchell said Delta would win if immunity isn't granted A Delta JAL alliance would still enjoy a dominant market share, with oneworld losing most of its Pacific routes, currently operated by JAL 
Share:  Aside from immunity, the two alliances are also jousting over the benefits each tieup would offer <span class="company">JAL</span> is expected to drastically cut operating costs if it partners with Delta as they have many overlapping US Japan flights<span class="sent"> "The cost cutting airlines can do from just being in the same alliance is limited," said <span class="analyst">Makoto Murayama</span>, senior analyst at Nomura Securities Co, adding that if <span class="company">JAL</span> and Delta cannot get immunity, the partnership is not so worthwhile</span> Mitchell said Delta would win if immunity isn't granted A Delta <span class="company">JAL</span> alliance would still enjoy a dominant market share, with oneworld losing most of its Pacific routes, currently operated by <span class="company">JAL</span> Tweet this 

It transported about 53 million passengers last fiscal year, 41 million of them on domestic routes As the global aviation industry was battered by the fall out from the September 11, 2001 attacks as well as the Sars and bird flu scares, JAL plunged into huge losses and sought massive credit lines from the government In a bid to survive the tougher business environment, JAL and domestic carrier Japan Air System merged to form JAL Group, changing the logo to the current "Arc of the Sun" resembling the national flag The integration, however, led to further losses and a slowdown in restructuring efforts, while its late coming rival All Nippon Airways (ANA) moved into high gear Despite the privatisation, JAL has often come under political pressure to maintain regular flights to more than half of domestic airports even though many are unprofitable, said Makoto Murayama, analyst at Nomura Securities 
Share:  It transported about 53 million passengers last fiscal year, 41 million of them on domestic routes As the global aviation industry was battered by the fall out from the September 11, 2001 attacks as well as the Sars and bird flu scares, <span class="company">JAL</span> plunged into huge losses and sought massive credit lines from the government In a bid to survive the tougher business environment, <span class="company">JAL</span> and domestic carrier Japan Air System merged to form <span class="company">JAL</span> Group, changing the logo to the current "Arc of the Sun" resembling the national flag The integration, however, led to further losses and a slowdown in restructuring efforts, while its late coming rival All Nippon Airways (ANA) moved into high gear<span class="sent"> Despite the privatisation, <span class="company">JAL</span> has often come under political pressure to maintain regular flights to more than half of domestic airports even though many are unprofitable, said <span class="analyst">Makoto Murayama</span>, analyst at Nomura Securities</span>...As the global aviation industry was battered by the fall out from the September 11, 2001 attacks as well as the Sars and bird flu scares, <span class="company">JAL</span> plunged into huge losses and sought massive credit lines from the government In a bid to survive the tougher business environment, <span class="company">JAL</span> and domestic carrier Japan Air System merged to form <span class="company">JAL</span> Group, changing the logo to the current "Arc of th Tweet this 

But Seiji Maehara, the transport minister, is less keen to throw an airline that accounts for more than 60% of air traffic in Japan to the mercy of the courts His view appears to have prevailed for now because of the fear that if JAL is put into administration, its suppliers, from oil companies to snack providers, might baulk at doing business with it Shareholders are also opposed to bankruptcy because JAL, with about 800 billion yen of debt, has negative net worth so it is unlikely they would salvage anything, says Makoto Murayama, an analyst at Nomura Securities Creditors also prefer a government backed rescue, he says, because in that case only the largest are likely to take significant haircuts on their loans Predictably, management of JAL also wants the state to bail it out—as it already has on several occasions in recent years 
Share:  But Seiji Maehara, the transport minister, is less keen to throw an airline that accounts for more than 60% of air traffic in Japan to the mercy of the courts His view appears to have prevailed for now because of the fear that if <span class="company">JAL</span> is put into administration, its suppliers, from oil companies to snack providers, might baulk at doing business with it<span class="sent"> Shareholders are also opposed to bankruptcy because <span class="company">JAL</span>, with about 800 billion yen of debt, has negative net worth so it is unlikely they would salvage anything, says <span class="analyst">Makoto Murayama</span>, an analyst at Nomura Securities</span> Creditors also prefer a government backed rescue, he says, because in that case only the largest are likely to take significant haircuts on their loans Predictably, management of <span class="company">JAL</span> also wants the state to bail it out—as it already has on several occasions in recent years...His view appears to have prevailed for now because of the fear that if <span class="company">JAL</span> is put into administration, its suppliers, from oil companies to snack providers, might baulk at doing business with it<span class="sent"> Shareholders are also opposed to bankruptcy because <span class="company">JAL</span>, with about 800 billion yen of debt, has negative net worth so it is unlikely they would salvage anything, says <span class="analyst">Makoto Murayama</span>, an analyst at Nomura Securities</span> Creditors also prefer a government backed rescue, he says, because Tweet this 

According to Nomura senior analyst Makoto Murayama, American's offer is good for JAL. "From JAL's point of view, it is in a good situation," he said.  
Share:  <span class="sent">According to Nomura senior analyst <span class="analyst">Makoto Murayama</span>, American's offer is good for <span class="company">JAL</span>. "From <span class="company">JAL</span>'s point of view, it is in a good situation," he said. </span>...<span class="sent">According to Nomura senior analyst <span class="analyst">Makoto Murayama</span>, American's offer is good for <span class="company">JAL</span>. "From <span class="company">JAL</span>'s point of view, it is in a good situation," he said. </span> Tweet this 

"If there is only one carrier, it will not be good in terms of the antitrust law and competition," Himeno said, adding that JAL and rival All Nippon Airways Co should compete with each other to keep airfares low and provide passengers with more choices. Makoto Murayama, senior analyst at Nomura Securities Co., pointed out people who can only use JAL from their local airports also need the carrier to continue operations. The struggle at Japan's largest has spread overseas. American Airlines parent AMR Corp., may team up with private equity fund TPG Inc to invest at least ¥300 million in JAL, aiming to keep JAL in the oneworld alliance, while Delta Airlines Inc of SkyTeam alliance also wants to bring JAL to their alliance. 
Share:  "If there is only one carrier, it will not be good in terms of the antitrust law and competition," Himeno said, adding that <span class="company">JAL</span> and rival All Nippon Airways Co should compete with each other to keep airfares low and provide passengers with more choices. <span class="sent"> <span class="analyst">Makoto Murayama</span>, senior analyst at Nomura Securities Co., pointed out people who can only use <span class="company">JAL</span> from their local airports also need the carrier to continue operations. </span> The struggle at Japan's largest has spread overseas. American Airlines parent AMR Corp., may team up with private equity fund TPG Inc to invest at least ¥300 million in <span class="company">JAL</span>, aiming to keep <span class="company">JAL</span> in the oneworld alliance, while Delta Airlines Inc of SkyTeam alliance also wants to bring <span class="company">JAL</span> to their alliance. Tweet this 

Japan Air is being examined by a government restructuring panel that aims to revise loan terms and gain state backed funds for the carrier to keep it operating. "An alliance would give Delta weight in Japan and help it lower expenses through a code share," said Makoto Murayama , a senior analyst at Nomura Holdings Inc. "It would allow Japan Air to cut cost and access more U.S passengers." .  
Share:  Japan Air is being examined by a government restructuring panel that aims to revise loan terms and gain state backed funds for the carrier to keep it operating. <span class="sent"> "An alliance would give <span class="company">Delta</span> weight in Japan and help it lower expenses through a code share," said <span class="analyst">Makoto Murayama</span> , a senior analyst at Nomura Holdings Inc. "It would allow Japan Air to cut cost and access more U.S passengers." . </span> Tweet this 

"Losing JAL would mean Oneworld suddenly has to rely more on American Airlines' few slots in and out of Narita," said Nomura analyst Makoto Murayama.  
Share:  <span class="sent">"Losing JAL would mean Oneworld suddenly has to rely more on <span class="company">American Airlines</span>' few slots in and out of Narita," said Nomura analyst <span class="analyst">Makoto Murayama</span>. </span> Tweet this