Suddenly lot of activity happening in Japan Airlines Corp (JAL). First, to scale back its non-viation operations it has planned to sell of seven of its hotels in Tokyo. And now the big thing, JAL has decided to cut 3,000 jobs as part of its strategic plan to save cost by approximately 50 billion yen (or $413 million) by next 3-4 years. Supposedly Asia's biggest airline this fiscal by market value has ranked sixth, not at all an impressive performance when not so high profile brands are going away with more market share. JAL has already presented the mid-term restructuring plan to its key lenders and shareholders and have also requested fresh borrowing for this fiscal year approximately 60 billion yen.
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