JAL expects to be back in black earlier than forecast

Struggling Japan Airlines expects to move into the black on a consolidated basis for the first time in three years in the current fiscal year through next March, one year earlier than initially planned, sources familiar with the matter said, according to Kyodo News.

JAL has included the forecast of US$246.76 million in operating profit in its draft income and expense plan, submitted to its main lenders, the sources said, according to the report.

It will be the pillar of JAL's rehabilitation programme to be presented to the Tokyo District Court by the end of August, with the airline apparently aiming to attract additional loans from the banks to achieve management health, Kyodo said.

JAL is undergoing a state-backed rehabilitation process after filing for bankruptcy protection on January 19.
(Source:www.cargonewsasia.com)