Asia, Japan Airlines | featured news

Japan Airlines soon is expected to emerge after less than three years in bankruptcy. Ashikaga Holding has been a classic "zombie company," taking nearly a decade to resume trading. That contrast could prove a tipping point for changing Japanese attitudes toward filing for bankruptcy.

JAL will shrink dramatically under a government-led restructuring plan, cutting significantly its work force, its routes, and the number of affiliated companies launched when the airline tried to diversify into a broad-based service firm.