Japanese Airlines has cut its forecast for annual net profits by 43 percent because of COVID 19.
With the pandemic hitting revenue from both domestic and international routes, JAL said net profit for the fiscal year ending in March would be $500 million, roughly half its previous forecast.
“We cancelled and reduced flights and we also used smaller planes, but these efforts didn’t make up for the losses,” the firm said in a statement.
JAL is scheduled to release full-year earnings later this month.