Japan Airlines has filed for bankruptcy in connection with its ten-billion-euro debt. The Japanese government has guaranteed JAL’s continued existence. The airline will have to restructure, with as many as a third of its almost 50,000 employees losing their jobs.

Earlier this week, Air France-KLM and its US partner Delta Airlines announced they plan to acquire a minority interest in Japan Airlines. They hope to benefit from Japan Airlines’ landing rights in Asia.

Photo: Japan Airlines - flickr / virtual pilot