Bloomberg News

Japan Airlines Wants Stable Yen, President Ueki Says

July 17, 2012

Yoshiharu Ueki, president of Japan Airlines Co., comments on currency and economy in a Bloomberg TV interview in Hong Kong.

JAL, which exited bankruptcy last year, will raise at least 500 billion yen ($6.3 billion) in an initial public offering as early as in September, two people familiar with the matter said in January. Ueki declined to comment on the share sale.

Ueki, a former pilot and veteran of more than three decades at the airline, was appointed president earlier this year. He replaced Masaru Onishi, who became chairman.

On yen:

“Speaking in general, until now the higher yen has been good for us. Having said this, if we have further strengthening, it is not a good thing for us. It has negative effect on many Japanese corporations, which are export-oriented. As a result, they may cancel their business trips. Therefore, what we want to see is stable currency rates.”

On economy:

“At present we are not seeing a large negative impact on business because of the economic conditions. However, we’ll be watching the situation very carefully. We spent the past two and half years making ourselves much stronger, more resilient and being able to deal with this kind of potential downside risks.”

To contact the reporter on this story: Susan Li in Princeton at sli323@bloomberg.net

To contact the editor responsible for this story: Vipin Nair at vnair12@bloomberg.net


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