Amid a storm of speculation over its future, Japan Airlines JAL announced dismal first-half results as it entered out-of-court mediation with its creditors over its multi-billion dollar debt burden.
JAL announced a 95.7 billion $1.1 billion operating loss last Friday for the first half of this financial year which ended September 30. That's down a whopping 417% from a year earlier when it posted an operating profit of 30.2 billion. Even JAL's chief financial officer Yoshimasa Kanayama was quoted saying the results were extremely bad.
Though, few were surprised by the airline's results. Bank of America Merrill Lynch analyst Yasuhito Tsuchiya wrote in a report that the airline's earnings...
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