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JAL set for $2.2bn loss in 2020 for first deficit since relisting

Dismal prospects forecast despite uptick in domestic flights

JAL's weak performance comes even as a slight recovery in domestic flights has narrowed recent deficits.   © Reuters

TOKYO -- Japan Airlines is expected to report a consolidated net loss of 230 billion yen ($2.2bn) for the year ending March amid the coronavirus pandemic and a collapse in air travel, Nikkei learned on Tuesday.

This compares with a 53.4 billion yen profit last year.

The dismal prospect comes even as deficits have started narrowing in recent quarters, thanks to a gradual recovery in domestic flights.

JAL is expected to publish its forecast when it releases half-year results on Friday.

It is difficult to compare this year's results with those of the past, as the company switched to international accounting standards starting in fiscal 2020.

A net loss would be the first since the company relisted on the stock exchange in 2012.

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