Japan Airlines forecasts return to black on expected rebound in travel demand

TOKYO, May 6– Japan Airlines Co. on Friday forecast a return to profit in the business year ending next March, as the airline expects patronage to increase as the downside effects of the COVID-19 pandemic have shown signs of improving. Japan’s flag-bearing carrier announced its projected return to the black, with a net profit forecast of 45 billion yen in the…

TOKYO, May 6 (Xinhua) — Japan Airlines Co. (JAL) on Friday forecast a return to profit in the business year ending next March, as the airline expects patronage to increase as the downside effects of the COVID-19 pandemic have shown signs of improving.

Japan’s flag-bearing carrier announced its projected return to the black, with a net profit forecast of 45 billion yen (345 million U.S. dollars) in the current fiscal year, despite rising costs for fuel.

In fiscal 2021 through March 31, JAL booked a net loss for a second straight year totaling 177.55 billion yen.

In the same period, however, the airline said its revenue increased 41.9 percent to 682.71 billion yen.

JAL recorded its first net loss in 2021 owing to the COVID-19 pandemic, which led to a dramatic slump in demand commensurate with the virus’ spread and government-imposed travel bans. Enditem