Japan Airlines cuts full-year outlook as first-half net profit dives
TOKYO: Japan Airlines yesterday slashed its full-year earnings outlook as it said fiscal first-half net profit nosedived owing to a slump in its international business.
The carrier said its bottom line in the six months through September shrank to ¥71.4 billion (RM2.86 billion), down more than 30% from a year ago, with a stronger yen also taking a toll.
The firm warned that full-year net profit would come in at ¥161 billion, down from an earlier estimate of ¥192 billion for the year through March.
By contrast, rival carrier All Nippon Airways said it cruised to another rise in net profit, pointing to cost-cutting efforts and a pick up in business travel from Europe, North America and Asia. The carrier’s parent, ANA Holdings, posted net profit of ¥57.4 billion for the six months to September, up 6.4% from a year ago, although revenue fell 2.9% to ¥885 billion.
It said its profit gain was largely due to “tight operational management and control of expenses”. ANA left its net profit forecast unchanged at ¥80 billion but slightly trimmed its full-year sales projection to ¥1.74 trillion from ¥1.8 trillion. – AFP