Manufacturing Industry
Japan Airlines makes first-half profit
Airline Industry Information, Nov 5, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Japan Airlines, Asia's biggest airline, has announced a profit for the first six months of 2004/05 as its cost cutting measures offset the rising cost of fuel.
The consolidated net profit of JPY82.96bn for April-September 2004 was up from a loss of JPY57.6bn over the same period in 2003 due mainly to the SARS outbreak in the region and the Iraq war. Despite the profit Japan Airlines has cut its full-year forecast by 36% to JPY23bn due to high fuel costs and slow passenger demand.
The airline's main rival All Nippon Airways reported a strong profit for the first six months of the year and despite keeping its full-year target at JPY14bn it is expected to beat that figure, reported Reuters.
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