22-Feb-2010 11:24 AM

JAL reportedly losing USD22 million per day; to accelerate efforts to cut costs

Japan Airlines Group companies are reportedly losing JPY2 billion (USD22 million) per day, with no immediately signs of a reversal in the losses (Yomiuri Shimbun, 22-Feb-2010). However, the carrier stated there have been no major problems with the carrier’s flight operations since it filed for court protection on 19-Jan-2010. Separately, JAL Chairman, Kazuo Inamori, stated the carrier would accelerate efforts to improve its profitability through restructuring, including new early retirement programmes (Kyodo News, 21-Feb-2010).

Japan Airlines: "We're making a very huge loss every day and must stop the bleeding by reducing expenses. All of us must be aware that we caused society a lot of trouble and must cut expenses thoroughly," Kazuo Inamori, Chairman. Source: Kyodo News, 21-Feb-2010.