Friday, 13th November 2009
In Business In Japan,
Japan Airlines reports loss
Japanese carrier Japan Airlines made a large loss for the year ending September, it has announced.
The group made a loss of 32.3 billion yen (£214 million) from July 2008 to September 2009, which is a fall from the 40.1 billion profit which the carrier made the year before.
The total loss for the first half of the year was the biggest ever seen by the carrier.
Due to the continuing economic turbulence around the world and volatile market conditions, the airline did not post any profit predictions for the full year.
Japan has just emerged from its deepest recession since the end of the second world war and many firms in the country are struggling with weak customer demand and job cuts.
Commenting on the news, executive officer Yoshimasa Kanayama said: "Since the sub-prime crisis emerged, our business has been affected by drops in the number of business passengers as well as the emergence of the new type of influenza."
Japan has been hit by swine flu and has seen the largest number of cases of the virus outside the US.
Written by Kimberley Homer.
Related news stories:
Japan Airlines gets bid from consortium (18th September 2009)
Japan Airlines announces US airline deal (13th January 2011)
Japan Airlines 'to take American offer' (9th February 2010)
New management take over Japan Airlines (3rd February 2010)
US carrier makes new offer to Japan Airlines (3rd December 2009)