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    Monday, November 23, 2009

    JAL Exec Proposes 50% Employee Pension Cut: Report

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    By Myra P. Saefong
    MarketWatch Pulse
       

      TOKYO -- Japan Airlines Corp. may propose cuts to pension benefits in the latest move by the ailing carrier to raise capital. The airline's President Haruka Nishimatsu said Monday that he has proposed a 30% cut in pension benefits for retirees and a more-than-50% reduction for current employees, according to a Kyodo news report. Separately, Richard Anderson, chief executive of Delta Air Lines Inc. , told Dow Jones that the SkyTeam alliance of global carriers may consider a larger investment than its proposed $1.02 billion into Japan Airlines.

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