Japan Airlines (JAL), Asia’s biggest air carrier, has filed for bankruptchy protection.
The implications are, of course, massive. The whole of the board have voted to resign, according to Japanese media, and there are expected to be about 15,600 job losses. Shares have fallen to an all-time low and shares will be delisted from the Tokyo Stock Exchange on 20th February.
Japan’s government says flights will continue as normal as restructuring of the airline begins, with a state-backed organisation planning to inject about 300bn Yen (£2bn) into JAL.
You can find more stories and details on the various news websites.
Tags: bankruptcy, JAL, Japan Airlines
