Japan Airlines' (JAL) shares will be delisted from Japan's stock exchanges tomorrow, following a filing for bankruptcy protection by the carrier last month.
The final trading day of the shares is today, says JAL. Shares will be delisted from the Tokyo stock exchange, Osaka securities exchange and Nagoya stock exchange from tomorrow, it adds.
JAL filed for bankruptcy protection on 19 January after incurring ¥2.3 trillion ($25 billion) in debt, and has embarked on a financial restructuring process by cutting unprofitable routes, slashing workforce numbers and renewing its fleet.
The carrier has approached its unions with a plan to cut employees' salaries by 5% and to withdraw bonuses in the 2010 fiscal year starting April.
The Japanese government has pledged up to ¥900 billion to keep JAL operating in the meantime.
Source: Air Transport Intelligence news
