• Compiled From Kyodo, Bloomberg

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The leadership of the largest labor union of Japan Airlines Corp. plans to accept a company proposal to cut pension benefits substantially to help the ailing airline turn itself around, according to union sources.

The 9,500-strong union, known as JAL Friendship & Improvement Organization, or JALFIO, reached the decision because changing the pension system is “a necessary step” at present, and cuts in benefits would help the recovery of the airline, which is “the source of welfare,” the sources said.

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