Japan Airlines has just recently revealed that it has had a $1.5 billion loss for the first half o the year. This news comes as the airline struggles to hold on through one of the worst economic downturns the industry has ever seen. As of now, Japan Airlines is seeking help from the government to deal with its creditors.

Japan Airlines has also recently scrapped its forecast for the rest of the year. This was due to the uncertainty surrounding its turnaround efforts, which requires the government to bailout the struggling carrier. Thousands of jobs cuts and major route reductions will be involved in trying to save the airline.

The carrier is currently seeking loans of 125 billion yen or $1.4 million. This money would be used to maintain its operations after having posted a 32.1 billion yen loss for the second quarter through September. This brings its overall losses for the first half of the year up to 131.2 billion yen, or $1.5 billion.

The executive officer of Japan Airlines, Yoshimasa Kanayama, said that the crisis has caused major drops in business numbers. This has not just been caused by the recession, which did play a big role in the lost profit, but it is also due to the swine flu, which has caused people to travel less. He also noted that the second half of the year is expected to be quite low as well.

The president of Japan Airlines, Haruka Nishimatsu, said that he feels a sense of responsibility to come up with a recovery plan that the public will understand. After all, Japan Airlines has been a part of many peoples’ lives, not just theirs.

Japan Airlines is in talks with both Oneworld partner American Airlines and SkyTeam rival group Delta for a possible investment in the company. It is said that American Airlines could be considering a $300 billion investment in the struggling carrier.