Loading
Search
▼ JAL Cuts Profit Forecast More Than 40%
- Category:Other
TOKYO - Japanese Airlines on Wednesday slashed its forecast for annual net profits by 43 percent because of the coronavirus, making it the latest carrier to fly into virus-related turbulence as global tourism plummets.
With COVID-19 hammering both domestic and international routes, JAL said net profit for the fiscal year ending in March would be 53 billion yen ($500 million), against an earlier forecast of 93 billion yen.
JAL said demand had plunged owing to entry bans around the world, the cancellation of major domestic events and a state of emergency in Japan with authorities requesting citizens refrain from travel.
"We cancelled and reduced flights and we also used smaller planes, but these efforts didn't make up for the losses," the firm said in a statement.
JAL also sharply revised down its operating profit forecasts to 100 billion yen from 140 billion yen while sales were forecast to fall to 1.41 trillion yen from a previous estimate of 1.48 trillion yen.
JAL posted 150 billion yen in net profits in its previous fiscal year.
The firm's downward revision came a day after cash-strapped Virgin Australia filed for insolvency because of the coronavirus pandemic, which has ravaged the global airline industry.
The firm was more than Aus$5 billion ($3.2 billion) in debt and had appealed for a Aus$1.4-billion loan to stay afloat, but the Australian government refused to bail out the majority foreign-owned company.
This week, Norwegian Air announced that four subsidiaries in Sweden and Denmark had filed for bankruptcy while Japan's other major airline ANA slashed its annual net profit forecast by 71 percent.
ANA and JAL are both scheduled to release full-year earnings later this month.
© 2020 AFP
- April 23, 2020
- Comment (647)
- Trackback(0)
Comment(s) Write comment
tadalafil tablets erectafil 20 <a href="https://sildenafilkiol.com/ ">tadalafil 5 mg goodrx</a>
-
FefgAmows Web Site
- March 26, 2022
ivermectin 18mg <a href="https://stromectolthza.com/ ">stromectol online canada</a>
-
Djehgaima Web Site
- March 26, 2022
ivermectin uk coronavirus <a href="https://stromectolthza.com/ ">ivermectin coronavirus</a>
-
Djehgaima Web Site
- March 26, 2022
price of stromectol <a href="https://ivermectinscdr.com/ ">ivermectin 2%</a>
-
CennBries Web Site
- March 25, 2022
where does tadalafil come from <a href="https://tadalafildase.com/ ">aurochem laboratories tadalafil</a>
-
Kwghsaisa Web Site
- March 24, 2022
cost of ivermectin medicine <a href="https://ivermectinscdr.com/ ">ivermectin 3mg dose</a>
-
CennBries Web Site
- March 24, 2022
order viagra with paypal <a href="https://zviagraols.com/ ">generic viagra online 25mg</a>
-
AnsNulajagma Web Site
- March 24, 2022
generic cialis super active tadalafil 20mg <a href="https://tadalafildase.com/ ">tadalafil cvs</a>
-
Kwghsaisa Web Site
- March 24, 2022
generic sildenafil citrate reviews <a href="https://sildenafilwttu.com/ ">sildenafil citrate and dapoxetine</a>
-
Rwhgaima Web Site
- March 24, 2022
sildenafil from canada <a href="https://sildenafilwttu.com/ ">sildenafil nitroglycerin</a>
-
Rwhgaima Web Site
- March 24, 2022
sildenafil dosage forms <a href="https://sildenafilehkl.com/ ">sildenafil daily</a>
-
Regegaima Web Site
- March 21, 2022
buy tadalafil online paypal <a href="https://tadalafilyhv.com/ ">tadalafil reddit</a>
-
Ddeggaima Web Site
- March 21, 2022
[url=https://nakrutka.me/]накрутка[/url]
-
Anthonywab Web Site
- February 22, 2022
[url=https://streamhub.world/]streamhub.world[/url]
-
AndrewWex Web Site
- February 11, 2022
Djjygaima Web Site- March 28, 2022