TOKYO (Reuters) - Japan Airlines Co (T:9201) (JAL) said on Wednesday that President Yoshiharu Ueki, who helped lead the company's recovery from bankruptcy, will be replaced by a senior executive in April.
Ueki, a former pilot who was named president in 2012, will become chairman while Yuji Akasaka, currently managing executive officer in charge of engineering and maintenance, will become the new president, the company said.
Ueki is credited with being instrumental in revitalising the once-bankrupt carrier by slashing costs and clinching code-sharing deals. But his successor will face a tough road in gaining back market share from rival ANA Holdings (T:9202).
JAL was freed from government-imposed restrictions on route expansion only last April, more than seven years after filing for bankruptcy and receiving a taxpayer-funded bailout.
ANA benefited from JAL's bankruptcy by winning slots at Haneda Airport, the airport preferred by business travelers departing from or arriving in Tokyo. It overtook JAL in 2016 to become the country’s biggest international airline and holds a higher Skytrax rating for passenger service and comfort.