JAL forecasts return to profit in FY 2022 on travel recovery hopes

© Kyodo News

Japan Airlines Co. said Friday it expects to return to the black in the business year ending next March on expectations that travel demand will grow as the effects of the COVID-19 pandemic have begun to ease.

JAL reported a net profit forecast of 45 billion yen ($345 million) in the current fiscal year, noting that its expectations outweigh uncertainties stemming from the Ukraine crisis and elevated fuel prices.

JAL posted a net loss for the second consecutive year at 177.55 billion yen in fiscal 2021 through March 31, while its revenue rose 41.9 percent to 682.71 billion yen.

The airline logged its first red ink last year since relisting in 2012 as the pandemic depressed travel demand.