JAL reports USD276m operating profit in Oct-2010
Japan Airlines Corp reported an operating profit of JPY23.1 billion (USD276 million) in Oct-2010 (Bloomberg/The Nikkei, 01-Dec-2010). It reported a record operating profit of JPY109.6 billion (USD1.3 billion) for Apr-2010 to Sep-2010 compared with a JPY96 billion (USD1.1 billion) loss in the previous corresponding period. The results prompted Hideo Seto, head of the Enterprise Turnaround Initiative Corp of Japan Committee overseeing JAL's rehabilitation, to comment: "The improvement in earnings is striking." The results were boosted by earning gains related to exchange rates and reduced fuel costs. The carrier plans to boost its operating profit to record levels within the next three years as set under its restructuring plans.