Japan Airlines, the carrier that filed for the country's biggest non-financial bankruptcy protection ever, has unveiled a final, more-aggressive version of its restructuring plan that speeds up a big cut in its workforce and slashes more unprofitable routes, reported Dow Jones Newswires.
But JAL still faces challenges as it pushes ahead with its reform efforts. The carrier seeks to refinance its current debt load of about US$3.55 billion by the end of March 2011, according to a person familiar with the matter, ensuring months of protracted negotiations with its main lenders in months to come |