One of the largest bankruptcies in Japanese history, JAL is saddled with ¥2.5 trillion (US$28 billion) of debt, according to a bankruptcy filing made by the airliner in a New York court on 19 January. In the filing, the company said it has been stung by rising costs and declining demand for air travel caused by terrorism, the outbreak of the H1N1 virus, and other factors.
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