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Article: Japan Airlines widens loss forecast, cuts 4,500 jobs
- Article from:
- Honolulu Star - Bulletin
- Article date:
- March 11, 2004
- Author:
CopyrightCopyright Honolulu Star - Bulletin Mar 11, 2004. Provided by ProQuest LLC. (Hide copyright information)
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face=+2; An airline manager says he doubts Hawaii will be directly affectedface=-2;
face=+Bold; Japan Airlines System Corpface=-Bold; ., Asia's largest carrier by sales, widened its loss forecast for this year by more than a third and promised to cut its workforce by 4,500 to help reverse the decline.
The airline said it will post a biggest-ever loss of 89 billion yen ($799 million) in the year ending March 31, the second time it's widening its loss forecast since November. It earned a profit of 11.6 billion yen in the year ended March 2003.
"Demand from passengers, especially Japanese group travelers, hasn't recovered as much as we expected," said Japan Airlines' Tokyo-based President ...