Tokyo, Jan 19 (IANS) Japan's top carrier, Japan Airlines Corporation (JAL), Tuesday formally filed for bankruptcy protection, paving the way for state-led restructuring.

Xinhua news agency reported that JAL filed for bankruptcy protection with the Tokyo District Court, with its liabilities, including those of group firms totalling 2.32 trillion yen ($25.8 billion).

The Tokyo Stock Exchange said JAL shares will be delisted from its First Section from Feb 20 through 100 percent equity reduction.

The Japanese government said in a statement it will seek 'the understanding and cooperation of foreign governments' to enable JAL to continue its flight operations and implement its rehabilitation programme.