Japan Airlines (JAL), Asia's biggest air carrier, has filed for bankruptcy¹ protection, in one of the country's biggest corporate² failures.

日本航空，亚洲最大的航空公司，申请破产保护，这是日本最大的企业破产事件之一。

JAL is now valued at less than the price of a new jumbo jet

Some 15,600 jobs are expected to be cut. All board members have also voted to resign辞职，放弃, according to Japanese media.

A state-backed turnaround转机，回车道 organisation³ has said it plans to inject about 300bn yen⁴ ($3.3bn; £2bn) into JAL.

Japan's government says flights will continue as normal as the airline begins restructuring改组，重建.

Its reorganisation will take place under the supervision⁵ of the state-backed Enterprise Turnaround Initiative Corporation (ETIC).

As well as reducing its headcount总人数, JAL will have to replace some of the older, less fuel-efficient planes in its fleet and reduce the number of routes it flies.

JAL will also receive a 600bn-yen credit line and get 730bn yen in debt waivers弃权，放弃.

Shares in JAL have fallen to an all-time low, valuing the firm at just $150m - less than the price of a new jumbo jet大型喷气式客机.

The Tokyo Stock Exchange said shares in the carrier would be delisted把从清单中划去，退市 on 20 February.

Along with other major global airlines, JAL has been hit hard by falling passenger numbers during the global economic downturn. The carrier has debts of $25.6bn.