JAL forecasts net loss for 2nd straight year

Japan Airlines is feeling the prolonged impact of the coronavirus pandemic. The JAL group says it expects to finish in the red for a second straight year, with a net loss of 146 billion yen, more than 1.2 billion dollars, for the current fiscal year through March.

The group suffered a net loss of about 2.5 billion dollars last fiscal year.

The company says passenger numbers are proving slow to rebound for both domestic and international flights.

JAL reported a group net loss of about 920 million dollars for the half year through September.

But that loss was around 500 million dollars lighter than in the same period a year earlier.

The company attributes the improvement to cost cuts and strong international cargo demand.

The company says domestic flights in the three months through September had only 34 percent of the passengers seen two years earlier. For international flights it was just 8 percent.

But it expects the numbers to rise to 92 percent and 23 percent, respectively, by March, thanks to vaccine programs and other developments.

Rival Japanese aviation company ANA Holdings is forecasting a net loss of 100 billion yen, or about 880 million dollars, for this fiscal year.