Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Japan's top airline hit by global downturn
Source: Agencies |
February 7, 2009, Saturday
|
Print Edition
Print Edition
JAPAN Airlines racked up a 38.5-billion-yen (US$423 million) loss for the fiscal third quarter as business travel and cargo traffic plummeted, battered by a global downturn.
The nation's top airline, also known as JAL Group, yesterday forecast a 34-billion-yen loss for the fiscal year through March, a reversal from its November projection of a 13-billion-yen profit.
The carrier made a 16.9- billion-yen profit in the previous fiscal year.
Sales for October-December sank 13 percent from a year earlier to 485.7 billion yen.
Travel for domestic passengers was flat for the period, but declined for international passengers as well as international cargo, the company announced.
Japan Airlines said it will continue with turnaround efforts, such as job cuts, more fuel-efficient aircraft and a focus on business travelers. But it acknowledged hard times were likely to continue.
"With business confidence falling and demand expected to drop far more than originally expected, the pressure to increase profitability, focus more on cost reduction and increase productivity levels will intensify," it said in a statement.
Japan Airlines said the surge in fuel prices had hurt results, especially in the first half.
Even with the appreciation of the yen, fuel costs rose by 107.4 billion yen to 414.5 billion yen for the first nine months of the fiscal year, compared to the same period the previous year.
The nation's top airline, also known as JAL Group, yesterday forecast a 34-billion-yen loss for the fiscal year through March, a reversal from its November projection of a 13-billion-yen profit.
The carrier made a 16.9- billion-yen profit in the previous fiscal year.
Sales for October-December sank 13 percent from a year earlier to 485.7 billion yen.
Travel for domestic passengers was flat for the period, but declined for international passengers as well as international cargo, the company announced.
Japan Airlines said it will continue with turnaround efforts, such as job cuts, more fuel-efficient aircraft and a focus on business travelers. But it acknowledged hard times were likely to continue.
"With business confidence falling and demand expected to drop far more than originally expected, the pressure to increase profitability, focus more on cost reduction and increase productivity levels will intensify," it said in a statement.
Japan Airlines said the surge in fuel prices had hurt results, especially in the first half.
Even with the appreciation of the yen, fuel costs rose by 107.4 billion yen to 414.5 billion yen for the first nine months of the fiscal year, compared to the same period the previous year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
