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| Version 0 | Version 1 |
|---|---|
| Japan Airlines 'to go bankrupt' | Japan Airlines 'to go bankrupt' |
| (about 2 hours later) | |
| Japan Airlines (JAL), Asia's biggest air carrier, is due to file for bankruptcy protection, reports say. | Japan Airlines (JAL), Asia's biggest air carrier, is due to file for bankruptcy protection, reports say. |
| JAL - which has $16.5bn (£10bn) of debts - is expected to make the move after a board meeting later on Tuesday. | JAL - which has $16.5bn (£10bn) of debts - is expected to make the move after a board meeting later on Tuesday. |
| JAL shares fell to an all-time low on Monday, valuing the firm at just $150m - roughly the price of a new jumbo jet. | JAL shares fell to an all-time low on Monday, valuing the firm at just $150m - roughly the price of a new jumbo jet. |
| Japan's government says flights will continue as normal as JAL begins restructuring under the supervision of a state-backed turnaround organisation. | Japan's government says flights will continue as normal as JAL begins restructuring under the supervision of a state-backed turnaround organisation. |
| JAL started negotiations with the Enterprise Turnaround Initiative Corporation (ETIC) in October last year. | |
| A third of JAL's workforce - more than 15,000 people - are expected to lose their jobs, the BBC's Roland Buerk in Tokyo says. | A third of JAL's workforce - more than 15,000 people - are expected to lose their jobs, the BBC's Roland Buerk in Tokyo says. |
| Banks will have to write off unsecured debt and JAL will receive an injection of taxpayers' money, our correspondent adds. | Banks will have to write off unsecured debt and JAL will receive an injection of taxpayers' money, our correspondent adds. |
| While the turnaround plan backed by the government will see the airline continue to fly, investors in the company are likely to lose most of their money. | While the turnaround plan backed by the government will see the airline continue to fly, investors in the company are likely to lose most of their money. |
| Along with other major global airlines, JAL has been hit hard by falling passenger numbers during the global downturn. | Along with other major global airlines, JAL has been hit hard by falling passenger numbers during the global downturn. |