Oil companies to continue to supply bankrupt JAL

Fuel suppliers will continue to honor their sales agreements with Japan Airlines Corp. (JAL) after the company’s bankruptcy filing in January, Petroleum Association of Japan (PAJ) President Akihiko Tenbo said at a news conference. JAL filed for bankruptcy protection under the Corporate Rehabilitation Law, setting the stage for efforts to turn around its ailing operations. With the government-backed Enterprise Turnaround Initiative Corp. of Japan pledging to fully guarantee JAL’s commercial transactions, suppliers will continue to provide jet fuel to the airline, said Tenbo, who also serves as chairman of Idemitsu Kosan Co. (January 22, 2010)