Japan Airlines’ shares sink as bankruptcy looms

Japan Airlines (JAL) shares fell a further 11.8% yesterday as investors brace for a probable bankruptcy filing on 19-Jan-2010. JAL’s largest lenders, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group, are reportedly now prepared to proceed with the proposed court-led reconstruction, after initially rejecting the plans.

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