UPDATE 5-JAL seeks $6.7 bln financial rescue package-sources

* JAL seeks Y600 bln in aid, capital, loans -sources

* Y300 bln in form of debt waiver, equity swap -sources

* Y300 bln in capital, loans -sources

* Banks wary of fresh aid, situation fluid -sources

* Job cuts to around 10,000, president to step down -sources

(Updates number of job cuts, sourcing, management change)

By Taro Fuse and Nobuhiro Kubo

TOKYO, Oct 13 (Reuters) - Japan Airlines Corp 9205.T has asked its creditors for a total of 600 billion yen ($6.7 billion) in financial aid as part of a restructuring plan to revive the loss-making carrier, two sources familiar with the matter said.

The request includes 300 billion yen in debt waivers and debt-for-equity swaps and another 300 billion yen in fresh loans and capital. Most of the loans would be guaranteed by the state, which would also shoulder part of the capital boost, the sources said.

The sources, who spoke on condition of anonymity because the plan is not yet public, said creditors remain wary of extending further assistance and that a failure to reach an agreement could push JAL into a court-led workout.

No one at JAL could be immediately reached for comment.

The struggling airline, Asia's largest by revenue, has been scrambling to put together a new turnaround plan under the supervision of the government, which is overseeing its restructuring after backing a 100 billion yen loan.

JAL had proposed a plan in September under which it pledged to cut 6,800 jobs, eliminate 50 routes and lower operating costs by 30 percent, but it was forced back to the drawing board after the government said the steps were not enough.

It was widely expected to seek aid from its banks and the government to pay for the restructuring given the wobbly state of its capital structure, which is light on equity and weighed down by $15 billion in debt.

Kyodo news had first reported earlier on Tuesday that JAL was seeking a debt waiver and debt-for-equity swap totalling about 250 billion yen. JAL had declined to comment on that report and a similar earlier source-based report by Reuters.

JAL plans to increase job cuts to about 10,000, or more than one-fifth of its workforce, and its president, Haruka Nishimatsu, will step down and be replaced by someone from outside the company, the two sources told Reuters.

SHARES DOWN

Shares of JAL closed down 2.9 percent at 133 yen. The benchmark Nikkei average rose 0.6 percent.

JAL has put on hold separate talks with Delta Air Lines (DAL.N) and AMR Corp's AMR.N American Airlines for a capital infusion and business ties, aiming to focus first on its own revival plan, Kyodo reported last week.

The restructuring of JAL took a new turn in late August when the Democratic Party came to power in a landslide election victory, ending the rule of the Liberal Democratic Party, which had supported state help for the airline.

The Democrats have said they do not want to see JAL fail but have not been clear on the extent to which they would be willing to use state finances to that end.

Aid from the government has been seen as a vital component of JAL's restructuring, either in the form of loan guarantees or a capital injection. Otherwise, JAL's creditors would be reluctant to extend fresh loans, bankers have said.

JAL's largest creditor is the state-owned Development Bank of Japan with 230 billion yen in loans outstanding at March 31.

Other lenders include Mizuho Corporate Bank with 57 billion yen in loans, Bank of Tokyo-Mitsubishi UFJ with 53 billion yen and Sumitomo Mitsui Banking Corporation with 37 billion yen.

The new transport minister, Seiji Maehara, has set up a special task force to help put together the new turnaround plan.

"I met with the task force members this morning and I got the impression they can come up with a fundamental solution," Maehara told a news conference on Tuesday. ($1=90.05 Yen) (Reporting by Nobuhiro Kubo; Editing by Simon Jessop and Andrew Macdonald)