JAL Executives to Return 10 Pct of Pay as Outlook Worsens
Tokyo, April 2 (Jiji Press)--Japan Airlines <9201>, or JAL, executives will return 10 pct of their remuneration for three months from April, considering its worsening earnings outlook due to the coronavirus pandemic, informed sources said Thursday.
The major Japanese airline is seeing its passenger fare income plunge after it decided to cancel over 80 pct of international flights in April, in the face of travel restrictions imposed by Japan and other countries to curb the spread of the virus.
JAL also plans to reduce domestic flights by more than 20 pct. On Thursday, the company announced that it will additionally decrease 403 domestic flights on April 6-19 and 90 flights on April 20-28, bringing the total number of flight reductions to 4,808 from April 6 to 28.
Its domestic rival, All Nippon Airways, has also decided to cut executive pay amid the pandemic.
[Copyright The Jiji Press, Ltd.]