Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

  Join our daily free Newsletter

MENAFN - AFP - 04/02/2013

No. of Ratings : 0
Digg This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093605760%26title%3dJAL-says-9month-net-profit-slips-ups-year-forecast Share This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093605760%26title%3dJAL-says-9month-net-profit-slips-ups-year-forecast Add to Delicious Seed this article Buzz this article Add to Reddit Add to furl Add to stumbleupon Add to Mixx!


 


(MENAFN - AFP) Japan Airlines said Monday net profit in the nine months to December fell to 1.52 billion, but it lifted its full-year profit forecast by more than 16 percent despite recent Dreamliner woes.JAL, which re-listed its shares in Tokyo last year after a high-profile bankruptcy restructuring, credited its European and US business for the boost to the earnings estimate.However, it warned that strained relations with China and a slow recovery in the global economy made its outlook less clear.The carrier and rival All Nippon Airways (ANA) have been hit by the worldwide grounding of Boeing's Dreamliner after a number of incidents including a fire on a JAL plane in Boston and an emergency landing on an ANA flight in Japan.The global no-fly order imposed by US regulators has seen Japan's two biggest carriers -- major customers of the aircraft, with more than 100 combined orders -- slash hundreds of flights, affecting tens of thousands of passengers.The regulators have said they will not allow the 787 to fly again until they are sure the problems around the battery system are fixed.On Monday, JAL said posted a 140.64 billion yen (1.52 billion) net profit in in April-December, down 3.7 percent from a year earlier, but said it would see a profit in the year to March of 163 billion yen from an earlier 140 billion yen forecast.Sales over the nine-month period were up 3.6 percent at 942.04 billion yen.Earlier Monday, JAL said it has postponed the launch of its Tokyo-Helsinki route due to the Dreamliner problems."While there are concerns of the impact of the suspended use of the Boeing 787 aircraft since January 2013, business has been robust, especially on European, North American and Southeast Asian routes," the carrier said in a statement."Various measures including new products and services, which were steadily promoted, are also expected to uplift revenue."On Monday, JAL said its international passenger segment sales rose 6.7 percent over the year earlier, partly due to adding routes and new services.Domestic passenger revenue also rose 1.7 percent year on year in the nine-month period, reflecting a recovery following the March 11 quake-tsunami disaster of 2011, the carrier said.Despite the results, JAL warned that the third quarter ended December "encountered risks of possible economic stagnation due to the economic slowdown in Europe, China, etc., deflation in Japan, (and) strained diplomatic relations due to territorial issues."That meant its outlook would "remain opaque", JAL said.Japanese airlines have been hit by a row between Tokyo and Beijing over sovereignty of a group of islands in the East China Sea, which triggered anti-Japan rallies across China and a consumer boycott of Japanese brands."Responding to the decline in demand on China routes owing to territorial issues, JAL swiftly adjusted down frequency of flights to minimise impact on revenue," it said.JAL re-listed its shares in September, marking a spectacular turnaround three years after it went bankrupt with massive debts and saw its stock delisted from the Tokyo Stock Exchange, Japan's premier bourse.The new listing followed a share offering that raised around 8.5 billion, the second biggest in the world in 2012 after Facebook's 16 billion offering.The airline, which continued flying during its overhaul, received a huge government bailout and other concessions, drawing howls of protest from rivals although some share sales proceeds were earmarked to pay back the government.JAL shares finished up 1.19 percent to 3,815 yen on Monday with the results published after the Tokyo market had closed.

 






  MENA News Headlines
May 23 2013China clears Boeing 787s for nation's airlines: Boeing ,AFP
(MENAFN - AFP) Chinese regulators have approved the Boeing 787 to fly in the country, Boeing said Thursday, a move that opens up a large potential market to the US aerospace giant. "I can confirm ...

May 23 2013H7N9 bird flu can spread in mammals: study ,AFP
(MENAFN - AFP) The H7N9 strain of bird flu can spread among ferrets and could do the same among humans under certain conditions, according to lab animal studies on the virus published Thursday. So ...

May 23 2013UN sees weak economic recovery this year ,AFP
(MENAFN - AFP) The world economy should start to make a weak recovery this year, but the United Nations said Thursday that Japan faces "risks" with its pump-priming spending and saw no end to ...

May 23 2013Unions seek probe of Qatari buyout of famed French store ,AFP
(MENAFN - AFP) Unions at the French department store Printemps have asked authorities open a probe into what they call opaque finances in the sale of the luxury shop chain to investors from the ...

May 23 2013Yahoo! buys startup specializing in online games ,AFP
(MENAFN - AFP) Yahoo! pressed on with its shopping spree on Thursday with the acquisition of a startup that powers games played on smartphones, tablets, consoles or personal computers. Word that ...

May 23 2013India's Tata Steel reports loss on Europe woes ,AFP
(MENAFN - AFP) India's Tata Steel, one of the world's biggest steelmakers, on Thursday swung to a quarterly net loss from a profit a year ago due to falling demand in its key European market. Tata ...

May 23 2013Ricoh to cut 13% of French workforce ,AFP
(MENAFN - AFP) Japanese office equipment and digital camera maker Ricoh will cut 338 jobs in France, some 13 percent of its workforce in the country, union officials said Thursday. "The management ...

May 23 2013Flu vaccine also linked to narcolepsy in adults: study ,AFP
(MENAFN - AFP) Finnish researchers unveiled new data Thursday to link the Pandemrix flu vaccine to a higher risk of the sleeping disorder narcolepsy in adults. Other studies had already shown a ...

May 23 2013Second child contracts polio in Pakistan's Waziristan ,AFP
(MENAFN - AFP) A second child has contracted polio in a restive Pakistani tribal region near the Afghan border after the Taliban banned vaccinations there nearly a year ago, a UN official said ...

May 23 2013SARS-like virus patent complicating diagnosis: Saudi ,AFP
(MENAFN - AFP) Saudi Arabia lamented Thursday that foreign drug companies had patented the new SARS-like virus that has killed 22 people worldwide in less than a year, slowing down the diagnosis ...

more...


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help