Markets News

Japan Airlines forecasts record annual loss of $3.6 bln after swing to Q2 loss

TOKYO, Oct 30 (Reuters) - Japan Airlines Co Ltd (JAL) said on Friday it expected a record operating loss of up to 380 billion yen ($3.63 billion) in the year to March 31, as it forecast international route demand would still be below 50% by then, thanks to the pandemic.

JAL’s forecast of a range of 330 billion yen to 380 billion yen for its operating loss exceeds an average loss of 273.1 billion based on estimates from 10 analysts, Refinitiv data shows.

The airline posted a second quarter operating loss of 92.9 billion yen, compared with a profit of 82.9 billion a year ago. ($1=104.7000 yen) (Reporting by Tim Kelly; Editing by Clarence Fernandez)