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JAL posts first post-pandemic annual airline profit
Japan Airlines is finally back in the black.
It announced its first annual net airline profit in three years, since before the pandemic.
Japan’s no 2 airline posted a ¥34.4 billion ($250 million) net profit, a big turnaround from last year’s loss of ¥177 billion.
“Air passenger demand recovered steadily as the shift toward balancing the Covid-19 pandemic situation gained momentum,” the airline said.
It last posted a profit in March 2020.
JAL relisted on the Tokyo Stock Exchange in 2012.
The positive performance was through ‘comprehensive cost-cutting efforts and maximising sales in cargo,’ it said.
Its main rival ANA Holdings also just posted a first post-pandemic annual profit.
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