Japan Airlines logs $2.6b loss over pandemic

Published: 22:57, May 07,2021

 
 

Japan Airlines posted an annual net loss of $2.6 billion on Friday but did not release a forecast for the current financial year, citing uncertainty around the coronavirus pandemic.

The carrier, Japan’s second-largest by market share, suffered a net loss of 286.7 billion yen for the year through March — its first full-year result in the red since it relisted on the Tokyo Stock Exchange in 2012.

‘There has been no indication of passenger demand recovery yet’ due to restrictions on international travel and tougher immigration measures, JAL said.

‘Our situation has been severe throughout this fiscal year.’

The company last week revised its projection for 2020-21 net loss to 287 billion yen from a 300 billion yen forecast in February.

JAL said that it had decided not to release an outlook for the year ending March 2022, warning ‘it is difficult to foresee the recovery of demand while the global spread of Covid-19 shows no sign of slowdown’.

Sales plunged 65.3 per cent compared to the previous year to 481.2 billion yen. — AFP

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