Japan Airlines to post record 230b yen net loss this year: Nikkei
[TOKYO] Japan Airlines (JAL) is likely to post a record net loss of about 230 billion yen (S$2.98 billion) in the business year ending in March 2021, battered by a coronavirus-led plunge in demand, the Nikkei business daily reported on Tuesday.
That is roughly in line with the 226.8 billion yen net loss expected by nine analysts, according to Refinitiv SmartEstimate data, and compares with a net profit of 53.41 billion yen posted in the year ended March 31.
Japan's second-biggest carrier has not provided guidance for the current year.
A JAL spokesperson said the reported forecast was not something the company announced, declining to comment. It is due to announce its first-half results on Friday.
Shares in JAL fell 2.8 per cent after the report.
REUTERS
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Porsche posts Q1 profit drop on ramp-up costs
Air China orders homegrown C919s in challenge to jet duopoly
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US