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How Japan Airlines cleaned up and got itself ready for its coming IPO

Excerpt from New York Times via CNBC

Jul 06, 2012 5:11 am

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Only a short while ago JAL was stumbling, to speak kindly. Now its partnerships and balance sheet are enviable enough that rivals like ANA are reminding Japanese taxpayers where the money came from.

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Japan Airlines’s initial public offering, expected in September, could be a monster affair.

After a reorganization with the help of Japanese taxpayers, the airline is posting record profits and healthy operating margins. It even expanded on Tuesday morning into budget air travel in a venture with Qantas Airways

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