Japan Airlines (JAL), Asia's biggest air carrier, has filed for bankruptcy protection, in one of the country's biggest corporate failures.
Some 15,600 jobs are expected to be cut. All board members have also voted to resign, according to Japanese media.
Along with other major global airlines, JAL has been hit hard by falling passenger numbers during the global economic downturn. The carrier has debts of $25.6bn.
Scotland’s largest airline, Globespan went into receivership just before the Christmas break affecting thousands of travellers.
The collapse affected an estimated 4,000 passengers overseas and left 80,000 future ticket holders with worthless tickets (unless ATOL protected).
Spanish airline Air comet went into liquidation on 22/12/09 causing losses between their main routes from Spain to Latin America.
Other news:
· Grounded German carrier Blue Wings seeks new investor
· Mesa Air Group files for bankruptcy under Chapter 11
· Jat Airways expected to lose €15m in 2009.
· Wizz Air suffers €9.5m loss in 2009.
· Malaysian Airlines returns to red with $88.2m loss
· Asia Pacific—17 carriers expected to make $4.8 billion loss
