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JAL’s annual net profit tumbles 64 pct

  • April 30, 2020
  • , Jiji Press , 20:25
  • English Press

Tokyo, April 30 (Jiji Press)–Japan Airlines <9201> said Thursday that its consolidated net profit plunged 64.6 pct to 53,407 million yen in the year that ended in March from the previous year due to falling travel demand amid the coronavirus pandemic.


The airline logged a net loss of 22.9 billion yen for January-March, posting the first quarterly loss since it went public again in September 2012 after emerging from bankruptcy. In January-March, rival All Nippon Airways’ ANA Holdings Inc. <9202> posted a net loss of 58.7 billion yen.


The pandemic is “an unprecedented risk,” JAL Senior Managing Executive Officer Hideki Kikuyama told a news conference.


In the year, JAL’s sales sagged 5.1 pct to 1,411,230 million yen.


The number of passengers on JAL’s international and domestic flights in March tumbled 73.8 pct and 57.1 pct, respectively, year-on-year. Demand fell further in April.


The airline did not disclose its earnings estimates for the year through March 2021.


The company has so far secured 104.3 billion yen in liquidity. It aims to promote talks with banks for more funds amid uncertainty about when the pandemic will be contained.


JAL is planning to cut fixed costs, including advertisement and personnel expenses, by 60 billion yen and reduce the amount of its capital investment by 50 billion yen to some 150 billion yen.



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