JAL to slash routes, aircraft in turnaround bid

(Reuters) - Japan Airlines Corp, a carrier worth no more than a two-decade-old jumbo when it was bailed out by the government in January, said it will retire two-fifths of its aircraft, abandon one in eight overseas flights and end a quarter of its home routes in a bid to return to profit.

To compete against cheaper regional rivals, JAL also said it would look at creating a low-cost carrier. The state-backed turnaround body leading the restructuring said relisting the airline would be possible by 2013.

JAL's turnaround pledge, submitted to the Tokyo District Court on Tuesday, includes a halt to......

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