It seems that with every passing day, despite having received many Government-backed bailout and a rebound in the global economy, Japan Airlines is pushed a little more towards bankruptcy.

Japanese Transport Minister Seiji Maehara revealed on Friday that the government will decide on a state-backed turnout plan for Japan Airlines Corp on Jan. 19. The decision is expected to pave the way for Asia's biggest carrier to restructure under bankruptcy protection.

As has been confirmed by AMR Corp., the parent facility of American Airlines, the carrier, in association with three other airlines, has offered a whole new plan to aid the struggling Japan Airlines Corp.

With Prime Minister Yukio Hatoyama deciding to reject offers of equity investment in the debt-ridden Japan Airlines Corp (JAL) from US rivals American Airlines and Delta Airlines, the Japanese carrier would likely undergo state-sponsored restructuring.