Kazuo Inamori the founder of electronic maker Kyocera Corp, will be the new Chief Executive of Japan Airlines as the carrier’s shares plunged ahead of its expected bankruptcy. JAL is likely to file for Bankruptcy as early as next week as part of a broader restructuring aimed at reducing debts, slashing about 13000 jobs and cutting up two dozen unprofitable routes.
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With $16 billion in debts, JAL’s bankruptcy would be the sixth largest in Japan’s History. This all steps are taken to cover some of the loss hit this year.
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