JAL Declares Bankruptcy as Airline Industry Woes Continue

Albert Einstein defined insanity as "doing the same thing over and over again and expecting different results." He could have easily been talking about investing in the the global airline industry.

Japan Airlines Corp. (JALSY) today became the millionth or so carrier to seek protection from its creditors in the last few years in what Bloomberg News says is Japan's fourth biggest bankruptcy. The filing came after a 900 billion yen ($10 billion) turnaround plan after four government bailouts to revive Asia's most indebted carrier failed, the news service says. (I has to reread that sentence again just to be sure it said four bailouts.)