Japan Airlines, Asia's largest carrier by sales, sharply raised its profit forecast Friday for the just-finished financial year, attributing the change to cost-cutting measures and steady demand for international travel.
Japan's biggest airline, known as JAL, estimated its net profit for the year ended March 31 would reach 16 billion yen (US$154 million, euro99.1 million), more than double the 7 billion yen in profit it had projected earlier.
"The main reason for the upward revision is due to our cost-cutting efforts," said JAL spokesman Hisanori Iizuka. Demand for foreign travel also helped the Japanese carrier upgrade its profit forecast, he said.
The company is to announce its earnings for the fiscal year on May 9.
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