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JAL to cruise through virus turbulence with newfound resilience

Post-bankruptcy shift away from leases keeps costs down as demand plummets

Japan Airlines planes at Tokyo's Haneda Airport: The carrier is seen to have resilience against headwinds. (Photo by Kei Higuchi)

TOKYO -- Japan Airlines is expected to report a record loss when it announces quarterly earnings Monday, but its bankruptcy a decade ago taught the carrier lessons in resilience that will prove invaluable amid a coronavirus crisis likely to drag on.

JAL, which is believed to have suffered an operating loss of about 120 billion yen ($1.14 billion) last quarter, is in the process of securing 500 billion yen in funding. That is more than the 300 billion-plus yen in cash it held at the end of the fiscal year through March, but less than half the 1.04 trillion yen being raised by rival ANA Holdings.

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