Japan Airlines plans to slash its workforce and reduce the number of planes in its fleet as part of its bankruptcy restructuring.

The airline aims to eliminate more than 16,000 positions, BBC News reported. Some of these reductions will come through early retirement and the sale of subsidiaries.

The company will shrink its fleet of planes by 103.

"By fully implementing these measures, the JAL Group will aim to become profitable from the first fiscal year of the plan and thus rehabilitate quickly," Japan Airlines said in a statement.

The company filed for bankruptcy protection on 19 January, with more than $25 billion in debt.