Japan Airlines Corp (JAL) is considering selling up to 49% stake in wholly owned credit card subsidiary JALcard Inc as part of fresh restructuring measures aimed at rebuilding its operations, the Nikkei reported on May 30, without citing sources.

JAL has recently asked main lenders, including the Development Bank of Japan and Mizuho Corporate Bank, for a capital increase of 200-400 billion yen and the struggling carrier hopes to win their support by presenting new turnaround plans, the business daily said. JALcard handles some 1.5 trillion yen in transactions, making it No. 6 in the credit card industry.