Word: carriers
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Dates: during 2010-2019
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Months of speculation came to an end on Tuesday afternoon as Japan Airlines (JAL), the country's 59-year-old flagship carrier that once symbolized the strength of Japan Inc., filed for bankruptcy with two of its subsidiaries. Weighted by debts estimated at $25.6 billion (2.3 trillion yen), Japan Airlines Corp., Japan Airlines International and JAL Capital made history today as what is perhaps Japan's largest nonfinancial corporate failure. With a long record of unprofitable earnings, the airline has taken a hit from weak travel demand after SARS and H1N1, fuel surcharges and the global recession...