ausi ski bum 1 Posted December 31, 2009 Share Posted December 31, 2009 With JAL losing 25% off the value of its shares in a few days and considering Becoming Bankrupt, How safe are my Feb March JAL Tickets ? If I was a JAL Customer with One World points, I would be using them now, I lost 250,000 Star Alliance points in the collapse of Ansett some years ago. Link to post Share on other sites
bobby12 0 Posted December 31, 2009 Share Posted December 31, 2009 your tix will be protected, but good point about the airmiles. we have about 100,000 we should get using asap. Link to post Share on other sites
RobBright 35 Posted December 31, 2009 Share Posted December 31, 2009 Depends which company you booked it through. do you have anything like ABTA in Australia? Link to post Share on other sites
HelperElfMissy 42 Posted December 31, 2009 Share Posted December 31, 2009 Travel Insurance with pretty much any company will cover you for loss incurred due to the collapse of the airline I would imagine. You will then have to go to the hassle of rebooking a flight with another provider and hope they do the same route at thereabouts the same time. I am flying out of here JAL...so hoping they keep on keeping on Link to post Share on other sites
skidaisuki 0 Posted January 1, 2010 Share Posted January 1, 2010 The answer is nobody knows for sure. My guess is that even if JAL does go bankrupt, it'll keep flying. The reason for Japanese Government support in the past is because JAL fly numerous money-losing regional routes in Japan that no business-minded company would bother with unless subsidised or otherwise "supported". This is one of several reasons why JAL owes the banks 16 billion dollars and anyone buying its shares recently is certifiable. SdS Link to post Share on other sites
klingon 10 Posted January 2, 2010 Share Posted January 2, 2010 "I'll burn it off later" I think I have been saying that for a week or two now. Sorry, off topic! Link to post Share on other sites
Tex 3 Posted January 2, 2010 Share Posted January 2, 2010 Advice I received is that short term OK to keep on track to fulfill flight bookings for the next couple of months as they try and re-finance and sort out the problems - even if they enter into Bankruptcy. Long term could be a real problem if they can not get it sorted fast,... of course you have to wonder how long they would want to let this news float around for with out hedging a positive solution as it will effect new bookings with all the uncertainty = ALL BAD. Can the Japanese government afford to let them go belly up?? Link to post Share on other sites
sunrise 0 Posted January 8, 2010 Share Posted January 8, 2010 I've been watching the JAL situation very closely. What would you do if you had JAL miles and had planned on using them later on in the year? I'm thinking I should book the flight ASAP - I'll have enough miles for my summer UK flight on the 10th, and using miles allows for date changes if I need them. The JAL decision will be made mid-month, and there's a possibility of bankruptcy proceedings, - in which case I will assume that any flights people have paid for will be covered by insurance, but what about if they were paid for in miles? Maybe I'm better off using the miles for my next Oz flight, which I hadn't wanted to do. Or maybe whatever I do I'm cactus if I don't fly in the next few days! It seems that whatever they do they want to keep JAL flying, but.... suddenly the miles I've been saving for on my JAL credit card look like they could be on pretty thin ice.... J Link to post Share on other sites
foreversnow 5 Posted January 8, 2010 Share Posted January 8, 2010 I have also been watching the JAL situation very closely as we are all flying JAL in Feb. I was assuming that if JAL file bankruptcy the Japanese Government were going to step in and prop them up. Have just read an article that said that the Japanese government have asked the banks to refinance JAL?? Link to post Share on other sites
thursday 1 Posted January 8, 2010 Share Posted January 8, 2010 Don't think you need to worry. If winding down was invovled, then the whole of Japan would wind down. They'll keep flying, just like those rubbish banks. Link to post Share on other sites
iiyamadude 6 Posted January 8, 2010 Share Posted January 8, 2010 No need to name those banks, they're all rubbish. Link to post Share on other sites
bobby12 0 Posted January 8, 2010 Share Posted January 8, 2010 It seems airmiles will be safe, according to something I read a few days ago. GOJ is making some proposal and it will be released at the end of this month. Link to post Share on other sites
RobBright 35 Posted January 8, 2010 Share Posted January 8, 2010 didn't they just double their loan? Link to post Share on other sites
bobby12 0 Posted January 9, 2010 Share Posted January 9, 2010 they making some package/provisions in case of going under. in that, airmiles will be protected, i read. Link to post Share on other sites
sunrise 0 Posted January 10, 2010 Share Posted January 10, 2010 Hope you're right, cos I just read another story about possible bankruptcy to take place. I've also since heard from someone who still has miles leftover from Delta/NW takeover (or whoever those relevant airlines were), so I feel a little more optimistic from his and your news... Link to post Share on other sites
bobby12 0 Posted January 12, 2010 Share Posted January 12, 2010 we got an email from jal this weekend saying from april jal miles being downgraded in some areas, e.g. if you convert them to waon cash etc you need more miles to get same cash. seems no effect (yet) on amount of miles needed to fly somehwere though. Link to post Share on other sites
RobBright 35 Posted January 13, 2010 Share Posted January 13, 2010 Shares dropped 45% today, now trading at 30yen per share. Would say JAL are FUBAR'd unless someone comes in asap. Link to post Share on other sites
thursday 1 Posted January 13, 2010 Share Posted January 13, 2010 that's a good price. Do you gamble? Link to post Share on other sites
Tex 3 Posted January 13, 2010 Share Posted January 13, 2010 Just heard American offered them 2 billion as long as they stay part of the Oneworld group.... That is while entering into bankruptcy proceedings. From what I can make of it it will mean short term things will continue, who knows what the future wil bring. Airmiles???? Link to post Share on other sites
RobBright 35 Posted January 13, 2010 Share Posted January 13, 2010 with your money? sure... Link to post Share on other sites
thursday 1 Posted January 13, 2010 Share Posted January 13, 2010 just put some spare on. If you win wow, if you lose, so what bit of fun really. Link to post Share on other sites
ausi ski bum 1 Posted January 13, 2010 Author Share Posted January 13, 2010 The easiest way to have millions in the bank would be to invest billions into JAL. Link to post Share on other sites
bobby12 0 Posted January 13, 2010 Share Posted January 13, 2010 One report I read said that it is unlikely they will accept either offer from delta/american as it will complicate restructuring. Link to post Share on other sites
RobBright 35 Posted January 14, 2010 Share Posted January 14, 2010 And also wipe out capital. Today dropped its MAXIMUM allowable, 81%, in one day, now down to 7yen a share. Still think its worth a punt? Link to post Share on other sites
ausi ski bum 1 Posted January 14, 2010 Author Share Posted January 14, 2010 I would invest a few thousand AU into it at that price, I suspect it could easily be back to 30yen plus fairly fast. Link to post Share on other sites
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