Japan Airlines Corp, Asia's largest carrier, plans to seek 60 billion yen (US$498 million) in loans by March 31 to help pay its debt.

"We are making our best efforts to draw up our mid-term business plan to win understanding from lenders and other stakeholders," JAL spokeswoman Yuko Takahashi told Bloomberg News on January 14.

Japan Airlines faces the possibility of an early redemption of a 100 billion yen convertible bond issue in March. The Tokyo-based carrier also plans to buy 750 billion yen worth of aircraft in the next five years.

The Asahi newspaper reported that Japan Airlines may get a 200 billion yen loan from more than 10 financial institutions, including Mizuho Corporate Bank Ltd and the Development Bank of Japan.

"We haven't asked for additional loans so far," Takahashi said when asked to confirm or deny the report.

Japan Airlines will unveil a new mid-term business strategy on February 6. The plan will include cutting 3,000 jobs and reducing unprofitable routes, the newspaper reported. Mizuho Corporate and the Development Bank of Japan want bigger salary cuts imposed by JAL, the report said.