Japan on Tuesday promised to provide emergency short-term loans to keep Japan Airlines in business while a state-backed corporate turnround agency finalises a plan to restructure the stricken airline.

The Enterprise Turnaround Initiative Corporation is expected to take until at least January to assess JAL’s financial situation and come up with a rescue strategy. However, the airline needs about Y200bn ($2.2bn) this month to roll over debts and pay suppliers, people close to the company said.