$1bn lifeline for Japan Airlines

Japan Airlines has been offered $1bn (£598m) emergency funding from Delta Air Lines and its SkyTeam partners, as Tokyo refused to rule out allowing the carrier go bust. The package includes a $500m equity injection, a revenue guarantee worth $300m and $200m in asset-backed funding. JAL’s shares plunged to an all-time low on news the government may allow it to go bankrupt.