January 12, 2010 / 8:18 AM / 10 years ago

JAL says secured retiree approval for pension cuts

TOKYO, Jan 12 (Reuters) - Japan Airlines Corp 9205.T said on Tuesday that two-thirds of its retirees have agreed to proposed pension cuts, clearing a hurdle in its push to cut its pension shortfall and qualify for an injection of public funds.

The airline needed the agreement of two-thirds of current employees and retirees for the cuts so it can reduce a pension shortfall estimated at 331 billion yen ($3.60 billion) at the end of March.

A JAL spokesman said the carrier received notifications of agreement from 5,991 out of 8,936 retirees. (Reporting by Chikafumi Hodo and Mariko Katsumura)

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