JAL files for bankrutpcy with $25 billion total debt

Published Tuesday, January 19, 2010

By AFP

Japan Airlines Corp said on Tuesday it had filed for bankruptcy with 2.3 trillion yen ($25.4 billion) in debt as of the end of September, as it seeks to revive itself under a state-backed restructuring plan.

The Enterprise Turnaround Initiative Corp of Japan (ETIC), a fund that can draw on government-backed funding to bail out ailing firms, has said it will support the carrier. ($1=90.43 Yen

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.

Follow Emirates 24|7 on Google News.

The page was last updated on: 10 January 2016 11:32