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Japan's transport minister said Friday finalization of Japan Airlines Corp.'s (9205.TO) revival plan will be delayed by two months to November, while he waits for recommendations on the overhaul of Japan's biggest airline from a newly established expert panel.

"Making the (restructuring) plan with people who understand the issue and can review it with an objective eye is the quickest way to achieving reform," Japan's Minister of Land, Infrastructure, Transport and Tourism Seiji Maehara told a news conference.

JAL is yet to suffer critical financial problems, Maehara added, so the company would be better served by following revitalization measures to be finalized by the panel by the end of November.

The new restructuring framework by Maehara will force JAL to go back to the drawing board in its effort to raise fresh capital from financial institutions, including a state-run bank, in exchange for restructuring that includes pay cuts and the termination of some routes.

The government-led reform may also affect JAL's tie-up talks with Delta Air Lines Inc. and American Airlines parent AMR Corp., which have been in separate talks with the Japanese company to strengthen their business cooperation and potentially invest in the airline with an aim of enhancing their service in the Asian market.

AMR, British Airways PLC and other members of the Oneworld airline alliance are also in talks with JAL to discuss deeper cooperation.

JAL is a member of Oneworld, while Delta belongs to the rival SkyTeam group.

Maehara stopped short of commenting on whether investment from foreign carriers will be needed for financing JAL's turnaround.

"The limited amount of capital is a major problem (for JAL) and seeking investment from outside is a move in the right direction; but whether it can be done is uncertain," he said.

Maehara said the establishment of a task force to advise on reviving the airline was his decision and has been approved by Prime Minister Yukio Hatoyama.

Hatoyama, who is attending the meeting of Group of 20 countries in Pittsburgh, told reporters his administration wants to scrap plans formed under the guidance of the previous government and come up with a "new scheme" for turning around JAL.

"Public aid may become necessary, but I want to reach a final conclusion in the shortest period of time possible by consulting Minister Maehara," Hatoyama said.

The launch of the advisory team comes after JAL President Haruka Nishimatsu met with Maehara Thursday to seek government support for his company's additional reform steps, including the use of public funds.

Maehara said Thursday, however, he was "skeptical about the feasibility of JAL's rehabilitation plan" within the time frame the airline was proposing.

JAL is mired deep in the red as the global economic slump and an outbreak of swine flu take their toll on its bottom line, with the airline predicting a net loss of Y63 billion for the fiscal year ending March.

The head of the task force, Shinjiro Takagi, said in a separate news conference Friday that his team is open to various options available in reforming JAL.

Takagi, a former executive of the defunct government corporate revitalization body, said his team will review JAL's operations and financial conditions "without having any preconception" and didn't deny the possibility of splitting the company's operations.

But he added he isn't considering a court-led rehabilitation for the company.

"What kind of management is suitable (for JAL) will be seen in our upcoming research," Takagi said.

-By Kazuhiro Shimamura, Dow Jones Newswires; 813-6895-7566; kazuhiro.shimamura@dowjones.com