China Financial Daily

JAL layoffs: Japan Airlines on the 31th submits to the restructuring plan, it will lay off 16 thousand people
Aug. 25 news, the ongoing restructuring of Japan Airlines announced on the 24th that the reorganization plan would be submitted to the Tokyo District Court program.

Restructuring program elements include: (1) financial institutions amounted to 521.5 billion yen to give up claims; (2) reduction in the year 2010 a total of about 16,000 employees of the Group; (3) from the end of September 2010 to 2011 3 at the end of the elimination of domestic and international flights were 45. The company hopes to improve the performance of layoffs, for the end of 2012 to re-listing of Nikko shares.

JAL has decided to major trading banks agreed to plan a reorganization plan. However, Japan Airlines to a number of banks had made loans totaling 319.2 billion yen of new negotiations in September was postponed to a later time. (translate by google)

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