Bankruptcy Likely For Japan Airlines Before Tie-Up

By Pete Brush

Law360, New York (January 11, 2010, 5:31 PM ET) -- Japan Airlines Corp. may have to complete a Chapter 11-type restructuring before it can enter into a tie-up with American Airlines Inc. or Delta Air Lines Inc., both of which have been trying for months to negotiate a deal with the carrier.

According to news reports, top officials in Tokyo are inclined to break a 10-year cycle of government bailouts that would send the airline, Japan's biggest in terms of earnings, into bankruptcy.

The planned three-year turnaround could see thousands of jobs cut to reduce costs,...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles