JAL files for bankruptcy protection

Debt-laden carrier to wield axe on 15,700 jobs, unprofitable routes

TOKYO: Japan Airlines Corp filed for bankruptcy protection yesterday owing more than $25 billion and vowed to slash 15,700 jobs and unprofitable routes as part of a plan to survive an industry beset by volatile fuel costs and fickle flyers.

JAL, Asia's largest airline by revenues, will remain in the skies thanks to almost 1 trillion yen ($11 billion) in support from a state-backed fund, but must go through a sweeping restructuring under a new board and management.