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JAL shares plummet

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JAL shares plummet

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Japan Airlines’ shares have fallen to a record low – slumping 24 percent in one session – amid growing concerns it could be headed for bankruptcy.

After a meeting of the cabinet to discuss how to restructure the carrier, the transport minister said the government is working to establish a new lending framework for JAL using the state-owned Development Bank of Japan.

Shares of Japan’s top banks, which are the airline’s main creditors, also fell due to the growing investor worries about its future.