JAL to make Chinese LCC Spring Airlines Japan unit a subsidiary

Economy

Japan Airlines Co. is planning to make a unit of Chinese low-cost carrier Spring Airlines Co. a subsidiary to meet an expected recovery in tourism demand after the coronavirus pandemic subsides, sources familiar with the matter said Sunday. JAL, which currently has about a 5 percent stake in Spring Airlines Japan Co., will invest an additional several billion yen possibly in June to increase its stake to 51 percent or more, the sources said. The major Japanese airline is eager to cash in on the projected return of Chinese tourists to Japan following the end of the pandemic. The company is expe...

Kyodo News

Kyodo News