Aviation News

June 20, 2012

Watch Out Facebook: Japan Airlines to Launch Year’s Second Largest IPO

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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.

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