Japan Airlines and JAL Express Agree on Merger

TOKYO March 26, 2014: Japan Airlines (JAL) and JAL Express (JEX) wholly owned by JAL have reached an agreement to integrate as below with approval of the board of directors’ meeting.

1. Purpose of merger
JAL aims to stabilize the domestic business, through enhancing the mobility of making the best match between capacity and traffic, and improving inflight human service of domestic flights.

2. Effective date of merger
October 1, 2014

3. Form of merger
JAL, as surviving company, will merge with JEX and JEX will be dissolved.

This integration is simplified merger for JAL and short form merger for JEX. The consent of the general shareholders meeting of each participating company is not a requirement for reaching a merger agreement.