Japan Airline, JAL International & JAL Capital submitted to Tokyo District Court the planning of rejuvenation on August 31 in 2010 and finally became bankruptcy. However, only two year and seven months later, JAL was relisted in the First Section of the Tokyo Stock Exchange. This too fast reconstruction was a rare case. This process has been hotly debated. But these debates have not been put in order. This article tries to put disputed point in order. Totally, this reconstruction tackled by the company was evaluated highly. But, from the point of view of international competiveness, many tasks remain to be settled.