Japan Airlines positions $1.5 billion first-half loss

Struggling carrier Japan Airlines alleged Friday it racked up $1.5 billion in losses in the first half and applied for government help to restructure.

Japan Airlines Corp., Asia's biggest carrier by revenues, supposed details of its restructuring plan are still being labored but it was working with the government during a "turnaround procedure" that will connect up the assistance of a private operator.

The company's 131.2 billion yen ($1.5 billion) loss during its financial first-half during September marked its biggest-ever loss for the period. With the intention of compared to a 36.6 billion yen profit in the same period a year in advance.

It did not concern forecasts for the year, saying it was too hard to offer projections among the restructuring.

Japan Airlines has been tattered by a collapse in travel brought on by the global slowdown and swine flu outbreak.

The company supposed international and domestic travel, as well as cargo traffic, all refused during the April-September half, dragging its revenues down 29 percent to 763.9 billion yen ($8.5 billion).