Tokyo (XFN-ASIA) - Japan Airlines Corp said it now expects
to have incurred a net loss of 16.2 bln yen in the past year to March, reversing
a previous projection of 3bln yen profit.
The turnaround is due to a projected increase in tax payments as a result of the withdrawal of some deferred tax assets.
While it now sees a bottom line loss, Asia's largest carrier raised its operating profit forecast to 22.9 bln yen from 13 bln previously, citing the positive impact of past cost-cutting efforts and a recovery in ticket sales.
JAL gave the following revised forecasts for the year to March 2007 vs previous forecasts:
- Revenue - 2.302 bln yen vs 2.268 trln
- Opg profit - 22.9 bln yen vs profit 13 bln
- Current profit - 20.5 bln yen vs profit 500 mln
- Net loss - 16.2 bln yen vs profit 3 bln
Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.