Watch Out Facebook: Japan Airlines to Launch Year’s Second Largest IPO
The first Japan Airlines Boeing 787 Dreamliner. (Photo by Dan King)
Japan Airlines filed paperwork on Wednesday which will allow the company to launch an $8 billion initial public stock offering on the Tokyo this September.
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.
