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The Honolulu Advertiser

Posted at 1:47 p.m., Friday, October 12, 2007

Japan Airlines' early retirement nets managers

Advertiser Staff

Japan Airlines Corp., Asia's most indebted carrier, said 180 managers more than targeted will take early retirement by the end of next month as the company cuts labor costs to return to profit, Bloomberg News reported.

The airline also sought voluntary retirement by the end of March from 900 cabin attendants with 15 years of service and as young as 50 years old, according to an e-mailed statement, Bloomberg said.

Japan Air, also known as JAL, is speeding up plans to cut staff and reduce labor costs by 50 billion yen ($426 million) in the year ending March 31. It expects to return to profit this year after posting losses of 64 billion yen in the two past years.