Japan Airlines shares rose modestly on its re-listing on the Tokyo Stock Exchange, more than two years after it filed for bankruptcy1 in one of Japan's biggest corporate2 failures.
日本航空公司在东京股票交易所重新上市之后,股价小幅上涨,两年前该公司申请破产保护。
JAL shares climbed 1%, trading at 3,830
yen3 up from 3,790 yen.
The 663bn yen initial public offering comes after the airline was given a government-backed
bail4 out in 2010.
It is the second biggest share sale this year globally after Facebook.
Turnaround
Japan airlines was de-listed from the stock exchanged after becoming
insolvent5(破产的). Since then it has carried out huge restructuring, cutting more than a third of its
workforce6, cancelling unprofitable routes and replacing older planes.
In August, JAL announced that net profit had doubled in the April to June period, compared with the previous year.
It was even recently called the world's most profitable airline after record operating profits.
"The past owner would be little bit hesitant to buy Japan Airlines shares because they have made losses," said Yuuki Sakurai from Fukoku Capital Management.
"But if this is a new buyer on the corporate side, they would be interested to see how successful Japan Airlines will be."
Mr Sakurai also said individual investors may be
enticed11 by discount
coupons12 given to buyers which can be used to purchase seats on flights.