Japan Airlines announced rehabilitation plan that will cut more than 16,000 positions by the end of fiscal 2010. The plan is to reduce staff from 2009 levels. It will retire 103 of its fleet and scrap 10 international and 39 domestic routes.
The airline not succeedd under a mountain of debt. It will invest 350 billion yen (4.13 billion U.S. dollars) in the carrier to make it a wholly owned unit said Japan's Enterprise Initiative Turnaround Corporation.
The plans have been submitted to Tokyo District Court. The company filed for economic failure protection on 19 January. JAL was established in 1951 and became the national airline of Japan in 1953.
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