Japan Airlines reports ¥286.7 bil loss
09 May, 2021
Japan Airlines posted an gross annual net lack of 286.7 billion yen ($2.6 billion) Friday but did not release a forecast for the existing financial year, citing uncertainty around the coronavirus pandemic.
The carrier, Japan's second-largest by market share, suffered the web loss for the entire year through March -- its first full-year bring about the red because it relisted on the Tokyo STOCK MARKET 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 it had didn't release an outlook for the entire year ending March 2022, warning "it really is difficult to foresee the recovery of demand while the global spread of COVID-19 shows no sign of slowdown".
Sales plunged 65.3 percent compared to the previous year to 481.2 billion yen.
Last month, ANA reported its worst ever annual lack of 404.6 billion yen, that was smaller than the firm's earlier projection.
But ANA Holdings said it expects to visit a rebound to 3.5 billion yen net profit in 2021-22, as the coronavirus disruption which has battered the aviation industry worldwide starts to ease.
Japan's airlines had expected a bumper year in 2020, when the Tokyo Olympics were formerly because of be held and tourist numbers were likely to break records.
The postponed Games are actually set to open in July, but overseas spectators have been completely barred from the function, with a decision on domestic fans delayed until June.
Source: japantoday.com