Tokyo, Jan 19 (Inditop.com) Japan’s top carrier, Japan Airlines Corporation (JAL), Tuesday formally filed for bankruptcy protection, paving the way for state-led restructuring.
Xinhua news agency reported that JAL filed for bankruptcy protection with the Tokyo District Court, with its liabilities, including those of group firms totalling 2.32 trillion yen ($25.8 billion).
The Tokyo Stock Exchange said JAL shares will be delisted from its First Section from Feb 20 through 100 percent equity reduction.
The Japanese government said in a statement it will seek “the understanding and cooperation of foreign governments” to enable JAL to continue its flight operations and implement its rehabilitation programme.
