Japan airlines predicts further loss owing to very low travel demand

Tuesday, February 2, 2021

Japan airlines unhappily projected that it further predicts a higher loss owing to continuous decreasing of travel booking. On Monday they announced a yearly forecast with record operating loss of 420 billion yen due to the sudden spike in coronavirus infection. The situation has dampened expectations for a recovery in domestic travel.

Japan Airlines (JAL) on Monday cut its full-year forecast to a record operating loss of 420 billion yen ($4.01 billion) as a flow in coronavirus infections further lowered business recovery options in domestic travel.

The new forecast compares with a loss of between 330 billion yen and 380 billion yen it predicted three months ago. That was worse than an average 338.8 billion yen loss forecast based on estimates from eight analysts, Refinitiv data shows.

In the three months to Dec. 31 the airline posted a third quarter operating loss of 70.2 billion yen compared with a profit of 31.7 billion yen profit a year ago. That was worse than an estimated average 54.8 billion yen loss from three analysts surveyed by Refinitiv. ($1 = 104.6700 yen)

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