TOKYO, Sept. 25 (Xinhua) -- The Japanese government plans to form a task force to help revive struggling Japan Airlines Corp., Kyodo News reported Friday, citing government sources.
The unit is likely to consist of some key members of the now-defunct Industrial Revitalization Corp. of Japan (IRCJ), including Shinjiro Takagi, who served as chairman of the IRCJ's decision-making panel, and Kazuhiko Toyama, who was the IRCJ's chief operating officer.
The IRCJ assisted heavily indebted but otherwise viable firms from 2003 to 2007.
On Thursday, JAL President Haruka Nishimatsu asked Transport Minister Seiji Maehara for a capital injection of public funds to keep the troubled carrier flying.
Maehara later told reporters that he was not convinced JAL's rehabilitation plan will work. And it "lacks specifics and feasibility," he said.
JAL, which posted a record group net loss of 99.04 billion yen (1.09 billion U.S. dollars) in the April-June quarter, was asked to come up the rehabilitation plan by the end of September.
In June, it reached an agreement with the Development Bank of Japan and other lenders for a loan of about 100 billion yen (1.10 billion dollars), partially guaranteed by the government.
It is planning to seek an additional loan of 100 billion yen after submitting the rehabilitation.
Special Report: Global Financial Crisis