mercoledì 20 gennaio 2010

JAL applies for bankruptcy

 JAPAN Airlines filed for bankruptcy yesterday in one of the nation's biggest corporate failures ever, entering a restructuring that will shrink Asia's top carrier and its presence around the world. Staggering under a US$25.6 billion debt mountain, the carrier applied for protection from creditors under the Corporate Rehabilitation Law - Japan's version of Chapter 11 - with the Tokyo District Court.