The axe has finally fallen at Japan Airlines (JAL) with the beleagured carrier filing for court-protected bankruptcy and turning to Japan’s state-owned Enterprise Turnaround Initiative Corporation (ETIC) for restructuring support. In one of Japan's biggest corporate failures, JAL applied for protection from creditors under the Corporate Rehabilitation Law — Japan's version of the US' Chapter 11 — with the Tokyo District Court. ETIC has confirmed that it will … [Read more...] about JAL succumbs to bankruptcy