Japan Airlines projects $1.3B net loss in 2021

By Tuba Sahin

ANKARA (AA) - Japan Airlines projected a net loss of 146 billion yen ($1.3 billion) for the fiscal year of 2021 amid the coronavirus pandemic, which is still cutting air passenger demand.

The full-year revenue is forecast to come at 766 billion yen ($6.75 billion) for the fiscal year ending March 2022, the airline said in a statement on Tuesday.

The company expects international passenger demand recovery will take some more time as Asian countries will not lift border restrictions soon.

"Domestic passenger demand is steadily recovering from October with the lift of the declaration of the state of emergency, together with the decreasing number of new infections and patients in serious condition," it noted.

Japan Airlines welcomed around 6.2 million passengers on domestic flights, up from 4.6 million a year earlier in the first half of fiscal 2021, Kyodo News reported.

The number of international flights stood at 353,640, more than a threefold year-on-year rise, it added.