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Japan Airlines has submitted its rehabilitation plan to Tokyo's District Court. That's seven months after it filed for bankruptcy protection, following severe losses.
The debt-ridden carrier said it will retire 103 jets, and scrap 49 routes in a bid to return to profit. JAL also said it would look at creating a low-cost carrier business. The state-backed turn-around body leading the restructuring, said re-listing the airlines by 2013 was an option.
JAL said the plan would help it achieve an operating profit margin of 9.2 percent by March 2013. It had nearly one trillion yen of debt at the end of March.