Japan Airlines Corp. said Wednesday it will log a net loss of 16.2 billion yen for the business year that ended March 31 instead of 3 billion yen in net profit as it earlier pledged, after its auditor required the carrier to apply stricter accounting rules.
A one-time loss of 6 billion yen resulting from JAL's early retirement program launched in March was another factor pulling down net income, the carrier said.
However, the nation's largest airline stressed that it is making a remarkable recovery in regular business activities, citing drastic improvement in operating profit and sales, as more people fly with JAL.