JAL's main banks -- including the state-backed Development Bank of Japan -- gave no immediate response to the request by the government team aiding the airline's reconstruction as they are seeking to have state guarantees attached to the bridge loans, the sources said.
JAL faces the risk of a cash shortage as early as the end of this month, but a viable measure to reduce its high corporate pension benefits is likely to be a prerequisite for the government to attach the guarantees to prevent the use of taxpayers' money to fund the high-cost system.
The company recently sought support from a government-backed corporate turnaround body, Enterprise Turnaround Initiative Corp of Japan, but the airline urgently needs about 180 billion yen in short-term financing to support operations until the entity formally decides on a rescue package, the sources said.