Japan Airlines to raise $1.6b in share sale, restructure business amid pandemic pain

Japan Airlines to raise $1.6b in share sale, restructure business amid pandemic pain

Photo: Japan Airlines' Facebook page

Japan Airlines Co Ltd on Friday said it would raise up to 168 billion yen ($1.62 billion) by selling new shares to shore up its finances as the COVID-19 pandemic hits air travel.

Airlines around the globe are struggling to ride out a pandemic that has cast a dark shadow across the global travel industry. Although Japan hasn’t been hit as hard as the United States and Europe, its travel industry is suffering.

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