JAL to Report over 100 B. Yen in April-June Operating Loss
Tokyo, July 28 (Jiji Press)--Japan Airlines <9201> is expected to log a group operating loss of over 100 billion yen for April-June, reflecting the novel coronavirus crisis, it was learned on Tuesday.
It will be JAL's largest quarterly loss since the airline came back to the first section of the Tokyo Stock Exchange in 2012 after going bankrupt. In the same quarter last year, the company reported an operating profit of 21 billion yen.
The dismal earnings outlook comes after the company was forced to suspend a large number of domestic and international flights amid the spread of the new coronavirus.
The airline had to cancel over 90 pct of its international flights, in response to entry and departure restrictions imposed by many countries amid the pandemic.
Also, JAL was only able to operate less than half of its domestic flights, due to the Japanese government's state of emergency over the coronavirus crisis and other factors.
[Copyright The Jiji Press, Ltd.]