JAL seeks $550 mil. investment from Delta

Japan Airlines is seeking a capital injection of about 50 billion yen, or some 550 million dollars, from US carrier Delta Airlines.

The struggling Japanese airline company has been pursuing capital tie-ups with Delta Air Lines and European carrier Air France-KLM in an effort to fundamentally reform its operations.

Japan Airlines sent top executives, including a deputy president, to the United States to negotiate with Delta on the amount of capital.

The company plans to ask for about 550 million dollars as part of the funds needed to restructure itself, but it is yet to be seen how much Delta will commit.

Japan Airlines also plans to enter into negotiations with Air France-KLM to receive tens of millions of dollars of capital.

If the negotiations are successful, an airline group made up of Japanese, US, and European carriers will come into being.