Japan Airlines, the first major Asian flag carrier to file for bankruptcy, will be officially delisted on 20-Feb-2010, meaning its last day in Tokyo trading will be today (19-Feb-2010) (Bloomberg, 19-Feb-2010). Shares in the Tokyo-based airline have slumped 99% over the past year, closing at just JPY1 yesterday. Meanwhile, Democratic Party of Japan lawmakers will reportedly form a panel as early as next week to investigate the business and political decisions that led to Japan Airlines’ bankruptcy (Bloomberg/AP, 18-Feb-2010). The probe will also reportedly examine whether JAL altered its financial records to disguise the full extent of its financial difficulties.
19-Feb-2010 10:50 AM