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Tuesday, November 24, 2009
Japan Airlines Shares Tumble Almost 10%
By Michael Kitchen
MarketWatch Pulse
LOS ANGELES -- Japan Airlines Corp. share fell by as much as 9.5% in Tuesday trading, after news reports that trading giant Mitsui & Co. sold all its shares in the April-September period. Mitsui sold its entire stake of 11.73 million JAL common shares in those six months, accounting for 0.43% of JAL shares at the end of March, according to Dow Jones Newswires. The shares have also been weighed by concerns about a government-led turnaround plan for the struggling carrier, in an attempt to keep it from bankruptcy. In early afternoon trading, shares of JAL were at 85 yen (96 U.S. cents) apiece, their lowest level this year, after starting 2009 at 212 yen.
Copyright © 2009 MarketWatch, Inc.
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