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Japan Airlines’ net profit drops 28 pct in April-Dec. period


Bangladeshpost
Published : 01 Feb 2020 09:44 PM | Updated : 05 Sep 2020 10:09 PM

Japan Airlines Co. on Friday announced that its group net profit in the April-December period slumped from a year earlier owing to a decline in demand for its international commercial and cargo flights, reports Xinhua. Japan's flag-bearing carrier said its group net profit in the recording period dropped 28.4 percent from a year earlier to 76.32 billion yen (700.41 million U.S. dollars).

Its operating profit in the period, meanwhile, fell 17.4 percent to 120.17 billion yen (1.10 billion U.S. dollars), JAL said, with revenues remaining virtually flat at 1.13 trillion (10.37 billion U.S. dollars).

For the full fiscal year through March, the company who suffered crippling losses in 2009 forcing it to cut staff and flight routes, said it now forecasts a drop in its group net profit by 38.3 percent from a year earlier to 93 billion yen (853.55 million U.S. dollars). 

JAL, who received a hefty government bailout after filing for bankruptcy in 2010, also said it expects its operating profit to total 140 billion yen (1.28 billion U.S. dollars), a drop of 20.5 percent, based on revenues forecast to total 1.49 trillion yen (13.67 billion U.S. dollars), marking a 0.1 percent decrease.