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JAL to Cut 15,600 Jobs, Reject Cash Bids
JAL could file for bankruptcy as early as Jan. 19, with company president Haruka Nishimatsu resigning soon after, reports said.
The Nikkei said Sunday the government and the turnaround body have asked Kazuo Inamori, founder of electronic component maker Kyocera Corp., to head JAL during the restructuring process. Inamori is to reply to the government by the end of the week.
Shares in JAL have tumbled and were off nearly 12 percent Friday at 67 yen. Friday's finish marked a staggering fall from JAL's closing price of 213 yen at the beginning of 2009.
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