JAL sells Haneda Airport Maintenance Centers

Japan Airlines International is to sell the fixed assets of its Haneda Airport Maintenance Centers 1 & 2 to the Industrial & Infrastructure Fund Investment Corporation. Haneda Airport Maintenance Centers 1 & 2 are hangars used by JAL primarily for aircraft heavy and line maintenance.

The JAL Group is concentrating its resources on core air transport business activities and making cost reductions in order to strengthen profitability. JAL decided to sell these maintenance facilities at Haneda Airport to reduce the risk from owning real estate and to reduce costs.

A decision by JAL to transfer these properties to the Industrial & Infrastructure Fund Investment Corporation was made today February 14, 2008 and the transfer of the property is expected on February 29, 2008.

JAL will continue operations at the center after concluding a rental agreement with the Industrial & Infrastructure Fund Investment Corporation.

The sale of this fixed asset will only have a minor effect on the JAL Group’s consolidated statement for FY2008, the year ending March 31, 2009. The financial forecast for FY2007, announced on November 6, 2007 will remain unchanged.

See other recent news regarding: Travel News Asia, JAL, Maintenance