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JAL Group Posts Loss In Q1

(RTTNews) - JAL Group (JAPSY.OB) reported a first-quarter loss of JPY 93.7 billion versus a profit of JPY 12.9 billion last year.

Revenue for the quarter plunged 78.1% to JPY 76.3 billion from JPY 348.8 billion generated a year ago.

The available seat kilometers (ASK) for International Passenger Business in the first quarter declined by 91.7% year over year, its passenger traffic decreased by 98.6% year over year, its revenue passenger kilometers (RPK) decreased by 98.3% year over year, and the load factor decreased to 17.5%.

Likewise, the available seat kilometers (ASK) for Domestic Passenger Business decreased by 64.2% year over year, its passenger traffic decreased by 86.7% year over year, its revenue passenger kilometers (RPK) decreased by 86.9% year over year, and the load factor decreased to 28.3%.

The JAL group noted that it would continue to reduce operating costs and to increase its revenue as much as possible with keeping a close eye on the passenger travel demand, considering the spread of COVID-19 in Japan and the world, and the outlook of the world and Japanese economy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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