Page last updated at 10:02 GMT, Friday, 26 February 2010

Japan Airlines reports huge loss

Japan Airlines planes
JAL faced massive debts when it collapsed in January

Japan Airlines (JAL), which entered bankruptcy protection last month, has announced a massive increase in loses.

The airline said it lost 177.9bn yen ($1.99bn, £1.3bn) in the last nine months of 2009 - up from a loss of 1.9bn yen a year earlier.

JAL is continuing to operate flights while it undergoes major restructuring under court supervision.

The company is expected to cut staff, routes and aircraft numbers in an attempt to return to profitability.

Reflecting on the company's failure, JAL said it was "deeply apologetic" for the situation that shareholders, creditors and customers now found themselves in.

"[We are] working fervently... to draw up an effective corporate revitalisation plan to rebuild the airline, while continuing to provide safe and stable flight operations and services to customers," the airline said in a statement.

JAL collapsed earlier this year after racking up $16.5bn in debts.

It is one of the most high-profile airlines to fall victim to the global recession, which caused a collapse in passenger numbers and left many airlines facing big losses.



Print Sponsor


RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific