JAL Emerges From Bankruptcy
Japan Airlines exited bankruptcy today, after the Tokyo District Court found that JAL had repaid more than two thirds of the monetary claims listed in a re

Japan Airlines exited bankruptcy today, after the Tokyo District Court found that JAL had repaid more than two thirds of the monetary claims listed in a reorganization plan. 

The airline spent 14 months in bankruptcy, during which it grounded 103 airplanes, including its entire fleet of Boeing 747s, laid off about 15,000 employees, slashed 49 routes and entered into a transpacific alliance with American Airlines due to start April 1. The companies expect the cooperation, which involves sharing of costs and route coordination on 10 transpacific routes, to save each carrier some $150 million a year.