WRAPUP 4-JAL files for $25 bln bankruptcy; to cut 15,700 jobs

martes 19 de enero de 2010 12:09 CET

(For more stories on JAL, click [ID:nTOE60D089])

* Japan's largest bankruptcy by non-financial firm

* Gets Y600 bln credit line, Y300 bln capital

* Shareholders wiped out; Y730 bln in debt forgiven

* Plan includes retiring 50 Boeing planes

* To slash 30 pct of workforce by 2012/13 (Adds gov't plan details)

By Mayumi Negishi and Mariko Katsumura

TOKYO, Jan 19 (Reuters) - Japan Airlines Corp 9205.T filed for bankruptcy protection on Tuesday owing more than $25 billion, and vowed to slash 15,700 jobs in an effort to survive in an industry hit by volatile fuel costs and fickle flyers.

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