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26th of November 2010
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News Tag: bankruptcy protection

February 26, 2010

JAL reports 177.9bn yen loss

by Kay Murchie
JAL reports 177.9bn yen loss
Japan Airlines (JAL), which last month filed for bankruptcy protection, has today posted a net loss of 177.9 billion yen (£1.31 billion, $2 billion) for the nine months to December 2009. The airline’s executive officer, Norikazu Saito, told reporters it suffered an operating loss of 120.8 billion yen on sales revenue of 1.14 trillion yen - a fall of around 27% against the ...




January 19, 2010

Japan Airlines files for bankruptcy

by Kay Murchie
”Japan
As expected, Japan Airlines (JAL) has today filed for bankruptcy protection. The airline, which is Asia's biggest carrier, has been struggling amid the global economic downturn and has been grappling with a mountain of debts of around $16.5 billion (£10 billion). The Japanese Government has said that flights will operate as normal and the airline will now begin its restructure under the watchful eye ...




Bankruptcy protection imminent for Japan Airlines

by Kay Murchie
Bankruptcy protection imminent for Japan Airlines
Japan Airlines (JAL) is expected to file for bankruptcy protection today in a move that will see the loss of 15,000 jobs at Asia’s largest carrier. Shares in the troubled airline have been plummeting over recent days as a bankruptcy filing seemed unavoidable. Yesterday, shares fell to a fresh low of 5 yen, having fallen as low as 3 yen. JAL has ...




June 1, 2009

General Motors files for bankruptcy protection

by Kay Murchie
”General
US car giant General Motors (GM) has today declared itself bankrupt, symbolising the largest collapse of an industrial company in US history. The move, which has the support of the US Government, was widely expected in the wake of plummeting car sales. According to the Obama Administration, the US Government will take a 60% stake in the car maker, but according to ...




May 15, 2009

GM to close more than 1,000 dealerships

by Kay Murchie
GM to close more than 1,000 dealerships
In an attempt to slash costs and fight off bankruptcy, struggling US carmaker General Motors (GM) has announced plans to close 1,100 of its dealerships. It is also severing ties with another 470 Saturn, Hummer and Saab dealers, according to the BBC. The news comes just 24 hours after fellow US carmaker, Chrysler, announced it would close 789 US dealerships as part ...