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JAL files for bankruptcy protection
19th January 2010 According to a news report on the BBC, Japan Airlines (JAL), Asia's biggest air carrier, has filed for bankruptcy protection, in one of the country's biggest corporate failures.Some 15,000 jobs are expected to be cut. All board members have also voted to resign, according to Japanese media.
A state-backed turnaround organisation has said it plans to inject about 300bn yen ($3.3bn; £2bn) into JAL.
Japan's government says flights will continue as normal as the airline begins restructuring.
Link: BBC
