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Airlines

UPDATE 1-JAL to cut more than 19,000 jobs by March 2015 - Kyodo

Aug 9 (Reuters) - Japan Airlines Corp JALFQ.PK, the debt-ridden group undergoing a state-backed rehabilitation process, will cut its workforce by 19,133 by the end of March 2015, the Kyodo news agency reported, citing a final draft of JAL's rehabilitation plan.

The draft said JAL will expand its previously announced retirement program and shed 8,339 jobs through fiscal 2014 ending March 2015, the Japanese news agency said.

JAL’s earlier plan was to cut about 16,000 jobs during the current fiscal year started April, the news agency said.

JAL will also sell two subsidiaries managing land operations for Chubu and Kansai airports -- Chubu Sky Support Co and JAL Ground Service Kansai Co -- given the planned cuts in its flights using the airports this fall, the Kyodo said.

The company, which filed for bankruptcy protection in January, will also aim to exit it and introduce 65 fuel-efficient passenger aircraft by fiscal 2014, the news agency said.

Through the job cuts and reduction of expenses, JAL expects to cut its employment costs to 255.2 billion yen ($2.99 billion) in fiscal 2012, the Kyodo said.

The carrier is aiming to report a group net profit of 106.7 billion yen for fiscal 2014, the news agency said. ($1=85.49 Yen) (Reporting by NR Sethuraman in Bangalore; Editing by Don Sebastian)

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