Japan Airlines says first-half profits up almost 500 percent

0 Comments | AFP, November, 2007

TOKYO (AFP) — Japan Airlines, Asia's largest carrier, said Tuesday that its first-half net profits soared almost five-fold, helped by restructuring measures and higher revenue on overseas routes.

Operating profits meanwhile surged almost seven-fold despite a slight drop in revenue, prompting JAL to raise its full-year target.

Net profit jumped to 7.3 billion yen (64 million dollars) in the six months to September from 1.5 billion a year earlier.

Operating profit soared to 56.6 billion yen from 8.1 billion despite a 0.6 percent drop in revenue to 1.14 trillion yen.

The company said the decline in revenue was largely because a former subsidiary is no longer included in its accounts.

JAL said it had also put aside 11.5 billion yen to prepare for...