Debt-ridden Japan Airlines (JAL) has filed for bankruptcy protection, marking one of the country's biggest corporate failures.
The airline plans to cut about 15,600 jobs and 30 unprofitable routes, and will receive a $US3.3 billion injection of public funds as part of its turn-around efforts, the BBC reports.
JAL shares plunged to an all-time low of 3 yen (US 3 cents) at one point on Tuesday, reducing the market value of the group to about $US90 million. The share price closed at 5 yen.
