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Continued from Part 1…
The burst of Japan’s bubble economy also hit JAL, and it started several low-cost airline subsidiaries, including JAL Express, to cut costs. Then, in 2002, it merged with longtime competitor Japan Air System.
JAL cemented its status as a world-class airline in 2007 when it joined the Oneworld airline alliance. However, following the 2008 financial crisis, it also had significant financial losses and filed for bankruptcy in 2010.
By 2012, Japan Airlines was in a better financial state and was able to relist on the Tokyo Stock Exchange. It made joint ventures with the likes of American Airlines and founded the low-cost airline Jetstar.
Following this, JAL continued to future-proof itself, introducing more international routes and entering Airbuses into service in the 2010s. The company had plans to begin another low-cost airline, Zipair, in 2020, but passenger flights have been put on hold due to the pandemic.
Unsurprisingly, this year Japan Airlines has reported a loss in profits. As it reaches its 70th birthday, we can wonder when it will take off again. (Jasmin Hayward)
This article was provided by The Japan Times Alpha.