JAL profit doubles to ¥27 billion

Kyodo

Japan Airlines Co. said Thursday its group net profit for the April-June first quarter more than doubled to ¥26.94 billion from the year before, helped by cost-cutting efforts it has been pursuing to become a publicly traded company again after going bankrupt.

For the three-month period, the carrier also reported a consolidated operating profit of ¥31.43 billion, a boost of 83.1 percent from the previous year, on sales of ¥286.74 billion, a rise of 12.5 percent.

The airline is expected to go public again on the first section of the Tokyo Stock Exchange next month after going through rehabilitation following bankruptcy in 2010 and subsequent delisting from the bourse.