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Japan Airlines forecasts full-year net loss of $1.28bn

Carrier to cut 2,500 employees by fiscal 2023 to encourage profitability

Japan Airlines has been hit by weak domestic passenger demand due to several states of emergency imposed in the country to deal with the COVID-19 pandemic. (Photo by Karina Nooka) 

TOKYO -- Japan Airlines on Tuesday forecast a net loss of 146 billion yen ($1.28 billion) for the fiscal year ending March 2022, as it struggles to recover from the coronavirus pandemic.

JAL had refrained making a forecast for the current fiscal year until now, amid lingering uncertainties related to COVID-19. The company is now expected to have operating losses for a second consecutive fiscal year. The airline forecasts 766 billion yen in consolidated sales for the current fiscal year, up 59% from the previous year.

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