TOKYO (Pakistan Point News / Sputnik - 30th October, 2020) Japan Airlines (JAL) forecasts a net loss of 240-270 billion Yen ($2.3-2.6 billion) for the 2020 fiscal year, the carrier said on Friday.
According to the company, the first semester (April-September 2020) net loss was estimated at 161.23 billion yen. The operating loss in this period amounted to 223.97 billion yen, with the sales volume decreasing by 74 percent and dropping to 194.79 billion yen.
Japan's Kyodo news agency reported, referring to JAL's top official, that the company was planning to reduce its fleet by 30 aircraft, including those used for transcontinental flights, by the beginning of the 2021 fiscal year.
The COVID-19 pandemic has badly affected the airline industry. Airline companies had to cancel flights and faced serious losses.
According to the International Air Transport Association, total industry revenues in 2021 are expected to be down 46 percent compared to the 2019 figure of $838 billion. The full-year 2020 traffic is expected to decrease by 66 percent.
