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JAL may reduce pension cuts for approval: Nikkei

Monday, November 23, 2009
Bloomberg


Japan Airlines Corp. may reduce a proposed cut in pensions to 30 percent from about 50 percent to gain approval from retirees, the Nikkei newspaper said, without saying where it obtained the information.

The airline aims to present its plan for trimming benefits within this year, the paper said. JAL will probably suggest its current employees take a 50 percent cut in pension payouts, the report said.

JAL's pensioners have pledged to reject any proposal that would cut payments by more than 50 percent, according to a Web site run by the Committee to Consider the Revision of JAL's Pension Scheme. More than a third of retirees would vote down such a plan, enough to derail it, according to the Web site.

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