Japan Airlines files for bankruptcy

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An employee of Japan Airlines works in front of its logo at New Chitose airport in Chitose, northern Japan January 19, 2010.

TOKYO, JAN 19 - Japan Airlines Corp (9205.T) 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.

Posted on: 2010-01-19 03:14

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