Commodities

Japan Airlines to post record $2.2 bln net loss this year - Nikkei

Credit: REUTERS/EDGARD GARRIDO

Japan Airlines Co) JAL is likely to post a record net loss of about 230 billion yen ($2.20 billion) in the business year ending in March 2021, battered by a coronavirus-led plunge in demand, the Nikkei business daily reported on Tuesday.

Adds analyst estimate, company comment, share price

TOKYO, Oct 27 (Reuters) - Japan Airlines Co) JAL <9201.T> is likely to post a record net loss of about 230 billion yen ($2.20 billion) in the business year ending in March 2021, battered by a coronavirus-led plunge in demand, the Nikkei business daily reported on Tuesday.

That is roughly in line with the 226.8 billion yen net loss expected by nine analysts, according to Refinitiv SmartEstimate data, and compares with a net profit of 53.41 billion yen posted in the year ended March 31.

Japan's second-biggest carrier has not provided guidance for the current year.

A JAL spokeswoman said the reported forecast was not something the company announced, declining to comment. It is due to announce its first-half results on Friday.

Shares in JAL fell 2.8% after the report.

($1 = 104.7700 yen)

(Reporting by Chang-Ran Kim; Editing by Kim Coghill)

((ran.kim@thomsonreuters.com; +81-3-4563-2740;))

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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