While the world’s biggest airlines continue to struggle with the impact of rising fuel prices and reduced demand, Japan Airlines (JAL), which went bankrupt two years ago, has posted an annual net profit of US$2.3bn.
A strong currency boosted business as more Japanese people travelled overseas, while cost cuts inflated the bottom line.
JAL filed for bankruptcy in January 2010 with more than $25bn of debt and required a government-backed bailout.
It shed about a third of its workforce, cut employee benefits and reduced unprofitable routes.
In February, JAL said it had ordered 10 new Boeing Dreamliner aircraft. It is also expected to launch operations of budget airline Jetstar Japan in July, a joint venture with Australia’s Qantas and Mitsubishi.
