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Japan Airlines 1-3Q profit down 3.7 pct

March 16. 2013 10:03PM
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(AP) Japan Airlines, which made a comeback from bankruptcy, says its net profit fell 3.7 percent in the first three quarters of 2012, but the carrier shrugged off the impact from its grounded 787s, raising its full-year profit estimate.

The 140.6 billion yen ($1.52 billion) profit the company reported Monday for April-December compared with 146 billion yen in the same period a year earlier.

Revenues rose 3.6 percent to 942 billion yen ($10.2 billion), but operating costs rose by nearly 5 percent.

JAL was delisted after it filed for one of the country's biggest-ever bankruptcies in 2010, receiving a 350 billion yen government bailout. It restructured and cut costs to restore profitability, netting 663 billion yen ($8.5 billion) in an IPO last fall, nearly double the sum spent on its bailout.

Associated Press

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