Japan Airlines to File for Bankruptcy

Monday, January 18, 2010

Japan Airlines (JAL) is expected to file for bankruptcy protection on Tuesday, ending months of speculation over the debt-ridden carrier’s future.

If all goes as planned, the bankruptcy filing will be followed by a restructuring aimed at trimming down the airline, cutting several routes and about a third of its staff.

Worries over the airline’s future have seen its stock price plunge in recent days, losing more than 90 per cent of its value.

Japan Airlines was established on August 1, 1951 and operates scheduled flights to 220 cities in 35 countries worldwide.

This entry was posted in Airlines, Asia, Business, International News, Japan, News and tagged , , , , , . Bookmark the permalink.

2 Responses to Japan Airlines to File for Bankruptcy

  1. Joe in Colorado says:

    Japan has reeled from 4 consecutive recessions. Their economy isn’t as strong today as that of China. I know they have to compete with All Nippon Airlines. I have never flown JAL but have friends who have and they loved the JAL.

  2. Estacada says:

    Between fuel costs and a global economic downturn, I am amazed there are any airlines still in operation.

    I know for a fact that when times are are lean, the first two things companies to is freeze hiring and trim business travel.

    The company I work for used to have a travel staff but all of them were laid off. Now, you call the airlines and make your own reservations just like the rest of the country.

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