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Yoshiharu Ueki eyes China growth for JAL

Japan Airlines 'hero' Yoshiharu Ueki takes on the challenge of navigating the market-relisted carrier through the tough times that lie ahead

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JAL president Yoshiharu Ueki, a former pilot, says one of his flying highlights was landing at the old Kai Tak airport. Photo: Bloomberg

As a commercial pilot, Yoshiharu Ueki had the challenge of safely navigating through sometimes tempestuous skies. As president of Japan Airlines, the nation's flag carrier, the challenges he faces now can be just as turbulent.

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Japan Airlines (JAL), which sought bankruptcy protection in 2010, was relisted on the stock exchange in Tokyo last month despite the weak market environment.

The company, which had been bailed out by the government, raised US$8.5 billion in the world's second-biggest initial public offering this year. Only Facebook's share sale raised more, attracting US$16 billion in May.

On listing, JAL became one of the world's most valuable airlines, ahead of its domestic rival, All Nippon Airways, whose market capitalisation was about US$7 billion.

Japanese media praised Ueki, a veteran Boeing 747 pilot and the son of Chiezo Kataoka, one of greatest Japanese film actors of the 20th century, as a hero.

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But the victory for Ueki and JAL was short-lived.

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