News Summary: Japan Airlines up slightly in debut

AP News
Posted: Sep 19, 2012 3:01 PM

SLOW TAKEOFF: Japan Airlines Co. capped an $8.5 billion initial public offering, the biggest this year after Facebook's, with a modest return to the Tokyo Stock Exchange. Shares rose 1 percent in the first day of trading.

PULLING OUT OF A DIVE: JAL was delisted after it went bankrupt in 2010. It has since restructured and returned to profitability. Its IPO nearly doubled what went into its government-backed bailout.

FRESH START: JAL trimmed a third of its payroll, invested in low-cost carriers, retired its big jets in favor of smaller ones suitable for regional hauls and changed its routes.