JAL files for bankruptcy
 

Wonder what happens to them now. Will they start to suck? *cough* Air Canada *cough*

http://news.bbc.co.uk/2/hi/business/8466997.stm

$150mil for an airline? Damn. Talk about chump change (relatively speaking).

damn that's shocking
love flying with them...friendly service/great food/good looking flight attendants

This is actually very sad.

Especially with all the sacrifices the CEO of JAL made during the economic crisis to try to save his company.

The suicide forest at Aokigahara on Mt Fuji awaits them.

Ouch to the banks amortizing the unsecured loans...

very sad. there was talks for so long about them nearing bankruptcy and its finally happen.

on a lighter note...sad day for the airline industry, godsend for the a/v industry :haha:

They will not go away. It's not really a sad day? They will just "restructure" the company and it'll be good to go.

Not really shocked, they've been losing money for years. Other carriers are really hurting them in Asian markets.

+1, with that said... Anyone, that's good with stock investments, think this will be a good one to invest in?
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I use to ALWAYS fly with JAL :(

Not for the near future.

wow..... they're such a great airline too i remember being fawned over by all the hot stewardesses as a lil kid and got a bunch of toys

It's a huge gamble and you run the risk of ending up with nothing. When a bankrupt company restructures, shareholders are wiped out and debt is "restructured", usually resulting in the debt holders taking equity in the company. This is assuming the company is worth more as a going concern. Since common shareholders are last in line to collect during bankruptcy, you'll run the risk that you might not get anything at all. The market seems to think that when all is said and done, the "leftover" for the common shareholders will be around 150 M. It's really a crap shoot because you can only roughly estimate what debt holder is going to be willing to take. Most of the time, these debt holders will sell the debt to a third party who will buy that debt from them at a huge discount and then pray that they get more from the company restructuring.

wow... that sucks for them

i see i see! thanks for the input! you just taught me something new, and extremely useful, for the day! (:

Question: I have a friend thats in Hong Kong right now and he flew with JAL from YVR to Japan to Hong Kong ( a transfer ). He is coming back this week, does anyone know if he will be able to have a flight back? I've looked all over JAL's website and it doesn't say anything about anything... all the numbers are japanese or weird non-1800 toll free's... Just want to see if anyone here has any info. By the way, his return flight is also a Hongkong to Japan to YVR transfer.

Yeah, I just got the e-mail from JAL this morning. =[
Love flying with them, great service, drinks, and staff.

try ANA next time :thumbsup::thumbsup:, JAL wont be missed.

I think your friend is screwed. He's going to lose the $$$ he paid for his flight.
And now he has to spend more $$$ to buy a one way flight from HK to Van.

Dang... Gonna miss flying with JAL.
Cathay and JAL my favorite 2 airlines...

why isnt the japanese government helping them out? isn't it the only Japanese airline?

never flew with jal but i heard good things about them

"Please rest assured that your reservations, flight tickets, and all air and land services remain unchanged and will continue functioning normally as JAL undergoes this business revitalization. We look forward to your continued support."

Thank god they are continuing their services.

they aren't closing shop.... they're just going into bankruptcy protection so that they dont close shop and hope to restructure and come back strong

no they're not the only airline in japan, but they are their biggest!