Japan Airlines' quarterly net profit down 32pc

31 Jul, 2019

Bottom-line profit fell to 11.9 billion yen ($110 million) for the April-June period from 17.5 billion yen a year earlier, but sales rose 4.0 percent to 355.7 billion yen.

Fuel costs were growing as tensions mount between the US and Iran, JAL said in a statement, adding that the company outlook was "uncertain".

Revenue from international cargo businesses fell 3.3 percent due in part to "US-China trade friction", it said.

The firm left their full-year forecast in place, projecting net profit at 114 billion yen for the fiscal year to March on sales of 1.56 trillion yen.

On Tuesday, ANA Holdings said its first quarter net profit fell by almost 30 percent on rising costs and a higher tax burden, despite increased sales.

ANA also kept its annual forecasts.

Copyright AFP (Agence France-Press), 2019
 

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