Japan Airlines said on Friday that it planned to raise up to 168b yen ($1.6b) through a public offering, followed by a third-party allotment, in a bid to raise capital after the coronavirus pandemic has caused a huge drop in demand for air transport. Through its equity finance plan, in which the company will issue new shares, Japan Airlines aims to strengthen its financial position while also investing in more energy-efficient aircraft in preparation for when demand picks up again. The company will issue up to 100m new shares, accounting for 30% of its current outstanding stock of 337m shares. The public offering will be be open to Japanese as well as overseas investors. While 100b yen of the capital will be used for investments, the remaining Y68b will be used for the repayment of interest-bearing debt. The airline plans to spend Y80 on aircraft from Europe's Airbus, with more fuel-efficient planes that emit less carbon dioxide. It also plans to put 15 billion yen toward an investment and loan plan for the company's low-cost carrier arm, which is expected to see a rebound in demand when travel markets recover.<br/>
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LATAM Airlines, the continent's largest carrier, said on Friday it lost $573m in Q3, as the company continues a bankruptcy restructuring process that started in May because of the coronavirus pandemic. Revenue fell 81% in the quarter compared to a year ago. The results “are not a surprise given the context,” said LATAM’s CFO Ramiro Alfonsin. Like most airlines around the world, LATAM’s domestic flights are recovering at faster pace than international routes after months of economic restrictions imposed to curb the virus. So far this year LATAM has reported a net loss of $3.6b. The airline also burned through more than $200m in cash between July and September, although in October it said it got access to fresh liquidity as part of its Chapter 11 restructuring.<br/>
Finnair has reached an agreement with Airbus to defer delivery of its three outstanding A350-900s by around two years. The carrier says the three A350-900s were originally scheduled for delivery from Q2 of next year through to Q2 2022. Finnair says the new delivery dates are, on average, 24 months later than originally scheduled. Deferring the deliveries will reduce Finnair’s cash flow from investing activities by around E200m in 2021. Finnair senior VP finance and fleet management Christine Rovelli says: “Finnair has been in intensive negotiations with all of its suppliers during the Covid-19 pandemic, seeking to reduce expenditures in order to support our ramp-up plans when traffic recovers. This agreement will give us more flexibility to deploy the existing fleet more efficiently and improve cash flow.” Finnair has already taken delivery of 16 of the 19 A350-900s it ordered.<br/>
The police have confirmed that former Malaysia Airlines Bhd (MAS) group CEO Datuk Ahmad Jauhari Yahya survived the mid-air collision that led to a helicopter crash in Taman Melawati. Ampang Jaya OCPD Asst Comm Mohamad Farouk Esha said that the 66-year-old Ahmad Jauhari and 51-year-old Tan Chai Eian were in the helicopter that managed to land safely near a Tamil school. He said that two men were killed in the crash that followed the collision. ACP Mohamad Farouk said the two helicopters were from the same company. "We believe they were from Subang, heading to Genting Sempah. We are investigating the cause of death while the investigation on the accident and crash will be conducted by the Department of Civil Aviation," he added.<br/>