An update on the state of the industry, given BASSA's insistence that everything is looking rosy.
JAL had to obtain government approval to receive up to $1.1 Billion in emergency loans aimed at preventing the money losing company from grounding flights.
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Struggling JAL booked $1.5 Billion in losses in the first half of the fiscal year, and faces interest-bearing debt totalling nearly $10 Billion." - Associated Press.
Oops - forget to mention Gulf Air who are losing an estimated $200 million a month, and have plans which include "substantial job losses".