Troubled JAL seeks $1.4 billion bridge loan from banks

A man walks past a logo of Japan Airlines at Haneda airport in Tokyo November 13, 2009. REUTERS/Kim Kyung-Hoon

A man walks past a logo of Japan Airlines at Haneda airport in Tokyo November 13, 2009.

Credit: Reuters/Kim Kyung-Hoon

TOKYO | Fri Nov 13, 2009 10:35am EST

TOKYO (Reuters) -Japan Airlines 9205.T, which is seeking a state bailout, seeks bridge loans totaling 125 billion yen ($1.4 billion) from banks, executive officer Yoshimasa Kanayama said at a news conference on Friday.

JAL, which applied for mediated debt restructuring earlier on Friday, is seeking its fourth state bailout since 2001 as it grapples with $15 billion in debt, a massive pension deficit and dozens of unprofitable routes.

(Reporting by Nobuhiro Kubo)

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