Japan Airlines to post record $3 billion net loss this year: Nikkei

Japan's second-biggest carrier has not provided guidance for the current year. PHOTO: AFP

Updated

Published

Oct 27, 2020, 09:41 AM

TOKYO (Reuters) - Japan Airlines (JAL) is likely to post a record net loss of about 230 billion yen (S$3 billion) in the business year ending in March 2021, battered by a coronavirus-led plunge in demand, the Nikkei business daily reported on Tuesday (Oct 27).

That is roughly in line with the 226.8 billion yen net loss expected by nine analysts, according to Refinitiv SmartEstimate data, and compares with a net profit of 53.41 billion yen posted in the year ended March 31.

Japan's second-biggest carrier has not provided guidance for the current year.

A JAL spokeswoman said the reported forecast was not something the company announced, declining to comment. It is due to announce its first-half results on Friday.

Shares in JAL fell 2.8 per cent after the report.