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Japan Airlines records $1bn loss

7 August 09 06:29 GMT

Japan Airlines has reported a significant loss in the three months to June, after ticket sales slumped during the period.

The airline made a loss of 99bn yen ($1bn; £618m) during the quarter, down from a 3.4bn yen loss a year earlier.

The figures come as Japan's government prepares to provide an emergency loan to the carrier.

JAL could receive up to 100bn yen in state aid, say reports, providing the airline's management improves.

Any funding would be provided through state owned Development Bank of Japan (DBJ).

Earlier this year, JAL sought to borrow up to 200bn yen from a government low-interest loans scheme.

The carrier saw sales drop 32% to 334.9bn yen from a year before.

JAL is maintaining its forecast for the fiscal year to March of a 63bn yen net loss.

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