Japan Airlines (NYSE: JAL) saw its shares hit a record low Wednesday due to fears that the Japanese airline carrier could be facing bankruptcy.
JAL, Asia's biggest airline, closed down 24 percent at 67 yen on the last trading day for 2009 on the Tokyo Stock Exchange. Earlier in the day, JAL plummeted 32 percent to 60 yen.
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The drop is even more staggering, considering that JAL's closing price was 213 yen at the beginning of this year.
Delta Air Lines Inc. (NYSE: DAL) and rival American Airlines (NYSE: AMR) are vying to purchase a stake in JAL in order to expand their Asian networks.
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