Business and Technology

Japan Airlines forecasts over $2.3bn annual net loss

Japan Airlines said it had forecast an annual net loss of more than $2.3-billion after the coronavirus pandemic grounded air travel around the world.

The carrier, Japan’s second-largest by market share, said it expected a net loss of 240-270 billion yen for the year ending March 2021.
It did not issue annual forecasts when it published first quarter earnings in August, citing deep uncertainty surrounding the pandemic.

“The airline industry has been… affected in an unprecedented way and fallen into very difficult circumstances” due to the pandemic, the company said in a statement.

“Many countries and areas still show no sign of slowing down the spread (of infection), which makes the recovery of international passenger demand difficult to predict,” it added.

Japan Airlines suffered a net loss of 161 billion yen in the April-September period, plummeting from a 54.2 billion yen profit for the same period a year ago.

Sales plunged 74.0 percent to 194.8 billion yen while it reported an operating loss of 224 billion yen.

The airline said domestic demand was beginning to pick up but it will “take more time… to make a full recovery.

In other news – Imbewu: The Seed actor Tony Kgoroge joins 7de Laan

Tony Kgoroge who is known for portraying Zimele “Ngcolosi” Bhengu on e.tv’s soap, Imbewu: The Seed, has joined SABC 2 soapie 7de Laan.

Tony Kgoroge

In the SABC 2 soapie, Kgoroge portrays the role of a mysterious man who is discovered by Nozi played by Dimpho More, on social media. The character who has not been named yet is offering to be the former Oppiekoffie waitress’s official blesser. Learn more

Source: eNCA