Japan Airlines Forecasts Over $2.3 Bn Annual Net Loss
Umer Jamshaid 1 month ago Fri 30th October 2020 | 01:00 PM
Tokyo, (UrduPoint / Pakistan Point News - 30th Oct, 2020 ) :Japan Airlines said Friday it had forecast an annual net loss of more than $2.3 billion after the coronavirus pandemic grounded air travel around the world.
It did not issue annual forecasts when it published first quarter earnings in August, citing deep uncertainty surrounding the pandemic.
"Many countries and areas still show no sign of slowing down the spread (of infection), which makes the recovery of international passenger demand difficult to predict," it added.
The airline said domestic demand was beginning to pick up but it will "take more time... to make a full recovery."Its announcement came after the country's biggest carrier, ANA Holdings, earlier this week forecast a record $4.87 billion net loss for this financial year.