Adds background on airways and pandemic, Star Flyer TOKYO,
Adds background on airways and pandemic, Star Flyer
TOKYO, Oct 26 (Reuters) – Japanese fund Benefit Companions is seeking to spend money on home airline Star Flyer Inc 9206.T, providing much-needed funding amid a hunch in air journey, Kyodo Information reported on Monday.
Star Flyer is planning a third-party allocation of recent shares to lift about 10 billion yen ($95 million), in line with latest media experiences. Benefit Companions is trying to participate, provided that present shareholders additionally take part, Kyodo stated, citing sources.
World airways are dealing with document losses because the coronavirus pandemic discourages journey.
ANA Holdings Inc 9202.T, Star Flyer’a largest shareholder with an 18% stake, expects a web lack of round 500 billion yen ($4.eight billion) for the 12 months to March, and is eyeing cuts to each jobs and its plane fleet, a supply with direct data stated final week.
ANA and its rival Japan Airways 9201.T are additionally getting authorities assist, together with a waiver on airport touchdown charges.
Star Flyer officers weren’t instantly accessible for remark. Its different buyers embody bathroom maker Toto 5332.T, Yaskawa Electrical Corp 6506.T and Nissan Motor Co 7201.T.
($1 = 104.8100 yen)
(Reporting by Chang-Ran Kim and Junko Fujita; Enhancing by Himani Sarkar and Jan Harvey)
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