3-Mar-2010 10:11 AM

JAL may post smaller-than-expected full year loss; may borrow less for turnaround

Japan Airlines Bankruptcy Administrator, Akitoshi Nakamura, stated the carrier may post a smaller than expected full-year operating loss, that could help the carrier reduce the amount it needs to borrow for its turnaround plans (Bloomberg, 02-Mar-2010). It was previously forecast that the carrier would report a loss of USD2.9 billion in the 12 months ending 31-Mar-2010. The carrier, last month, received JPY600 billion (USD6.8 billion) in state-backed loans to help cover its restructuring costs.