Japan Airlines said Friday that it is likely to post pretax losses of 50 billion yen in fiscal 2001 on both a parent-only and group basis due to a decline in passengers in the wake of the Sept. 11 terrorist attacks in the United States.
The airline also said declining demand for electronics goods cargo amid a global slowdown in the information technology industry is to blame for the losses.
JAL said its group pretax losses for the year through March 31, 2002, will come to 50 billion yen, a sharp downturn from profits of 53.31 billion yen recorded the previous fiscal year.
The firm said it will have to skip dividend payments for the year, in marked contrast to the dividend of 4 yen per share it paid in the preceding fiscal year.