JAL files for bankruptcy with $25 bn total debt

Japan Airlines Corp said on Tuesday it had filed for bankruptcy with 2.3 trillion yen ($25.4 billion) in debt as of the end of September, as it seeks to revive itself under a state-backed restructuring plan.

Japan Airlines Corp said on Tuesday it had filed for bankruptcy with 2.3 trillion yen ($25.4 billion) in debt as of the end of September, as it seeks to revive itself under a state-backed restructuring plan.

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The Enterprise Turnaround Initiative Corp of Japan (ETIC), a fund that can draw on government-backed funding to bail out ailing firms, has said it will support the carrier.