Japan Airlines files for bankruptcy
Comments (Checking...)
Japan Airlines (JAL) has filed for bankruptcy with debts of around £15.5 billion as of the end of September.
The bankruptcy is part of a state-backed restructuring plan agreed with the Japanese government’s Enterprise Turnaround Initiative Corp which provides funds to bail out ailing firms. It is thought the airline will receive around £2 billion.
The market has been expecting an announcement about JAL since the turn of the year.