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Japan Air Exits Administration With $3 Billion in Financing

Japan Airlines Corp. exited bankruptcy-court administration after shedding about a third of its staff, grounding 103 planes and winning 255 billion yen ($3 billion) in funding from financial institutions.

“Finally, the thinking has changed at JAL,” Chairman Kazuo Inamori told reporters in Tokyo today. “People have realized that if we don’t take care of things ourselves no one is going to do it for us.”