Watch Out Facebook: Japan Airlines to Launch Year’s Second Largest IPO
The IPO would be the second largest of 2012 by dollar amount, following the $16 billion raised by Facebook in late May. It would also ring up to be the seventh largest in Japanese history.
Once racked with $25 billion in debt, JAL has recently returned to profitability following a massive restructuring over the past two years, laying off 16,000 employees and shedding over 100 aircraft, including its entire Boeing 747 fleet.
The Japanese government, which provided JAL with about $4.5 billion in financing during the turmoil, would earn a hefty return on its investment through the IPO.