Japan Airlines (JAL) on Monday cut its full-year forecast to a record operating loss of 420 billion yen ($4.01 billion) as a surge in coronavirus infections dampened expectations for a recovery in domestic travel.
The new forecast compares with a loss of between 330 billion yen and 380 billion yen it predicted three months ago. That was worse than an average 338.8 billion yen loss forecast based on estimates from eight analysts, Refinitiv data shows.
Within the three months to Dec. 31, the airline posted a 3rd quarter operating loss of 70.2 billion yen compared with a profit of 31.7 billion yen profit a yr ago. That was worse than an estimated average 54.8 billion yen loss from three analysts surveyed by Refinitiv.
