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Japan Airlines announced the completion of its
court-supervised corporate reorganization, claiming to have made "full
repayment of reorganization claims," which amounted to more than 395
billion yen ($4.8 billion).
Since filing in January 2010 for the Japanese equivalent of bankruptcy protection, JAL cut roughly one-third of its workforce, retired more
than 100 aircraft and eliminated dozens of unprofitable routes. Kazuo Inamori
will remain chairman and Masaru Onishi will remain president, and JAL plans to
"direct all efforts towards rebuilding the business," according to a
company statement. "It will also fulfill its responsibilities as a public
transport operator and continue contributing as much as possible to the regions
in Japan stricken by the recent natural disaster."
Source: The Transnational