Japan Airlines in a sorry state. USD2 billion loss in first nine months. What’s next?

In a brief statement, the JAL Group has revealed a USD1.36 billion operating loss for the nine months ended 31-Dec-2009, compared to a loss of USD100 million in the previous corresponding period. Operating revenue for the nine-month period slumped 22% to USD4.28 billion, for an operating margin of -31.8%. Ordinary losses increased by USD1.44 billion to USD1.72 billion and net losses ballooned to USD2.0 billion (or a net margin of -46.7%) - its worst result since its 2002 merger with Japan Air System. JAL stated it "recognises and is deeply apologetic for the current situation that has caused great inconvenience and concern to our shareholders, financial creditors, customers, suppliers and other related parties".