Japan Airlines Filed for Bankruptcy!!!

Quoted : http://biz.thestar.com.my/news/story.asp?file=/2010/1/19/business/20100119141209&sec=business
TOKYO: Japan Airlines filed for bankruptcy Tuesday in one of the nation’s largest corporate failures, entering a restructuring from which it seeks to emerge leaner, smarter and free of crippling debt.

Bankruptcy for a National Airline is no small matter, wow, largest coporate failures, i'm glad that our MAS need not face the same outcome...

The airline, known as JAL, will slash nearly 16,000 jobs, cut routes and shift to more fuel-efficient aircraft as part of its restructuring. Government cash will keep JAL’s planes in the air during the reorganization. Its shares will be removed from the Tokyo Stock Exchange

Now, with job slash, many people will go jobless, with current economic situation, it just makes the people's life harder to live by...

The issue, which has lost more than 90 percent of its value over the last week, tumbled another
40 percent Tuesday to 3 yen at one point. It finished flat at 5 yen. The company is now essentially worthless, with a market capitalization of about 13.7 billion yen (US$150 million) - the price of one Boeing 787 jet.

Oh No, it consider worthless by the experts and the market, i wonder what is gonna happen to this guy... I thought that there was no way that JAL would fail," said Akiko Saito, a 63-year-old retiree returning from Sydney to Tokyo's Haneda Airport. "Even when the value of my JAL shares fell from 800,000 yen to below 120,000 yen, I was convinced that it would recover, and I held on to my stock."

This is what the stock market does to people, sell you dream, but with lots of uncertainty lying around... dangerously living the dream....
Apparently there has been 4 bailouts. since 2001. Now that there will be new board of management, hope that JAL will come back more strongly, leaner and meaner to compete with the big boys in the world market...

It will take sometime before JAL will soar high into the sky and the market. But I'm sure they will, people learn from mistakes, i m sure it will come back Stronger.