File photo of a JAL Boeing 747 landing at Heathrow Airport in the UK
Japan Airlines (JAL), Asia's largest airline, is expected to file for bankruptcy protection on Tuesday, bringing an end to months of speculation about the airline's financial future, riddled by debt.
The bankruptcy filing, should it go ahead, is to be followed by a restructuring program, backed by the government, intended to trim down the airline, firing a third of its employees, and removing some routes from its schedule.
JAL stock has fallen by over ninety percent in the last few days, due to the financial uncertainty of the airline. Shares for JAL were trading as low as US$0.05 earlier today at the Tokyo stock exchange. The carrier's estimated value is now $150 million, about the price of a single Boeing 787 jet.
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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
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