Japan Airlines Corp. executives will forgo pay in December as Asia’s largest carrier heads for a fourth year of losses in five.
The airline has also asked employees to give up their winter bonuses, Soichi Yatsugi, a spokesman at Japan Air, said in a telephone interview in Tokyo. Agence France-Presse reported the cut in executive pay earlier.
Japan Air has asked the state-affiliated Enterprise Turnaround Initiative Corp. for aid as it seeks to avoid collapse amid a travel slump. Company President Haruka Nishimatsu in September proposed cutting 6,800 jobs and carrying out the biggest reduction of routes in the airline’s history to help return it to profit.
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