JAL Asking for 300-B.-Yen Loans

Economy

Tokyo, April 25 (Jiji Press)--Japan Airlines <9201> is asking for 300 billion yen in loans from financial institutions as passenger flight demand has slumped due to the coronavirus pandemic, it was learned Saturday.

The airline aims to secure the money, including through a credit line, from lenders such as MUFG Bank and Mizuho Bank. The government-backed Japan Bank for International Cooperation is also expected to be included.

JAL has revised down its consolidated net profit forecast for the year that ended last month to 53 billion yen from 93 billion yen. For January-March, the company expects to report a net loss.

ANA Holdings Inc. <9202>, the parent of rival All Nippon Airways, is negotiating with financial institutions to obtain loans.

[Copyright The Jiji Press, Ltd.]

Jiji Press