Implementation of the Procedure based on the "Measures for the Revitalization of JAL"
Tokyo, November 24, 2009: Based on the “Measures for the Revitalization of JAL” (the Arrangement by the related five Ministers dated November, 10 2009) (http://www.mlit.go.jp/report/press/cab04_hh_091110.html), we submitted an application to the Minister of Land, Infrastructure, Transport and Tourism today for the confirmation that an event which would interfere with our flight operations could occur, and it was confirmed by the Minister that, in case of the occurrence of such event, convenience for users and corporate activities would be significantly affected.
Based on the confirmation above and in order to eliminate any causes which would lead to such event, the loan agreement regarding funds necessary for continuance of our flight operations was duly executed by and between Development Bank of Japan and us today.
As we announced in the press release entitled “Announcement of Application for and Acceptance of Turnaround ADR Procedure” dated November 13, 2009, we already applied for the Turnaround ADR Procedure, and the treatment of our repayment of debts under the loan agreement above, etc. in preference to other claims held by the participants of the Turnaround ADR Procedure was approved at the First Relevant Creditors’ Meeting held on November 20, 2009.