Japan Airlines forecasts bigger loss as coronavirus dampens travel demand

Japan Airlines on Monday cut its full-year forecast to a record operating loss of 420 billion yen as a surge in coronavirus infections dampened expectations for a recovery in domestic travel.

Japan Airlines (JAL) on Monday cut its full-year forecast to a record operating loss of 420 billion yen ($4.01 billion) as a surge in coronavirus infections dampened expectations for a recovery in domestic travel.

The new forecast compares with a loss of between 330 billion yen and 380 billion yen it predicted three months ago. That was worse than an average 338.8 billion yen loss forecast based on estimates from eight analysts, Refinitiv data shows.

In the three months to Dec. 31 the airline posted a third quarter operating loss of 70.2 billion yen compared with a profit of 31.7 billion yen profit a year ago. That was worse than an estimated average 54.8 billion yen loss from three analysts surveyed by Refinitiv. ($1 = 104.6700 yen)

Follow more stories on Facebook and Twitter

This story has been published from a wire agency feed without modifications to the text.