Japan Airlines says its net profit for the fiscal year ending in March 2020 fell 64.6% to 53.4 billion yen ($500 million). coronavirus
JAL said net profit for the fiscal year ending in March fell 64.6% to 53.4 billion yen on annual sales of 1.4 trillion yen, down 5.1%.JAL said demand had plunged owing to entry bans around the world, the cancellation of major domestic events, and a"Our group is facing an unprecedented situation," the company said in a statement.
The airline did not release earnings forecasts for the current financial year, citing uncertainty over the pandemic. For now, JAL plans to cut its number of flights by 90% on international routes and more than 60% on domestic routes from its flight schedule announced before the pandemic."The decline in flight demand due to the impact of the new coronavirus is a temporary phenomenon and our mid- and long-term forecast that demand for flights from and to Japan will grow greatly has remained unchanged," it said.annual net profit dived 75% to 27.
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