JAL Shares Tumble On Delisting Concerns

Shares in Japan Airlines Corp. were ask-only Tuesday morning on worries that the carrier will be delisted. It was reported last weekend that JAL will file for bankruptcy protection as early as January 19 to press ahead with restructuring with support from the Enterprise Turnaround Initiative Corp. of Japan (ETIC). JAL and ETIC have decided to limit a possible alliance with either one of the two interested US carriers, Delta and American, to a business tie-up rather than a partnership that includes equity ownership, according to Nikkei.