JAL restructuring plans unveiled

JAL has announced plans to cut staff levels by over 16,000 through retirement and/or redundancy. It is stated that this is to take place before the end of March 2013. In addition 103 aircraft will be disposed of and no less than 49 routes are earmarked as loss-making and are to be scrapped. These plans are integral to the survival of JAL as it attempts to gain favour a secure a restructuring package worth ¥521.5 billion and is an effort to show investors that it can achieve a 9.2% profit margin by March 2013.