JAL’s liabilities vastly outweigh assets

Debt-laden Japan Airlines reportedly has liabilities that exceed its assets by as much as 5.8 billion euros.

A source has told Reuters that the government-led task force in charge of restructuring JAL has calculated that would the shortfall if it were liquidated.

The figure underscores the depth of the problems facing Asia’s largest airline as it tries to avoid bankruptcy with aid from banks and the Japanese state.

Copyright © 2009 euronews

tags: Airlines, Japan