9-Jun-2010 10:36 AM

JAL expecting profit in current fiscal year, net result "very bad"

Japan Airlines President, Masaru Onishi, confirmed the struggling carrier expects to return to operating profitability in the current fiscal year to Mar-2011, the first time in three years and one year earlier than planned, due to aggressive downsizing and withdrawal from unprofitable routes (Asia Pulse/Nikkei/Asahi Shimbun, 07-Jun-2010). However, he warned that due to extraordinary losses from restructuring, net earnings "would be very bad".