JAL shares drop to a record low
Shares of Japan Airlines slid to a record low yesterday on growing investor worries that Asia’s largest airline by revenue could face bankruptcy as it struggles to agree pension cuts. The slide was also fuelled by news that trading house Mitsui sold all of its 11.7m JAL shares, raising speculation other shareholders would follow suit. JAL’s stock has more than halved in value this year and has tumbled 15 per cent since 17 November after the transport minister rattled investors by saying bankruptcy was still a possibility.