JAL procures $1.59 bln from state bank credit line

TOKYO Thu Jan 14, 2010 9:15pm EST

TOKYO Jan 15 (Reuters) - Japan Airlines Corp 9205.T said on Friday it had procured 145 billion yen ($1.59 billion) in funds remaining from a credit line provided by the state-owned Development Bank of Japan.

Japan Airlines Corp, Asia's largest airline by revenues, will file for bankruptcy protection as early as Tuesday as part of a restructuring package being crafted by a state-backed turnaround fund, sources have told Reuters. [ID:nTOE60D089]

JAL had already drawn 55 billion yen in funds from the 200 billion yen credit line established by the DBJ to ensure it can maintain its operations. (Reporting by Nathan Layne)