Japan Airlines Co. said Friday it expects to post a net loss of between ¥240 billion and ¥270 billion in the current business year through March, its first red ink since its relisting in 2012, as the coronavirus pandemic sharply reduced demand for air travel.
JAL said it logged a net loss of ¥161.23 billion in the first half of fiscal 2020. Earnings before interest and taxes saw a loss of ¥223.97 billion on sales of ¥194.79 billion, down 74% from a year earlier.
"We have seen very severe results following the continued impact of the virus," Hideki Kikuyama, a senior managing executive officer of JAL, said at a news conference.