Japan Airlines System Corp. said Friday it saw a huge decline in revenue and profit in fiscal 2003 due to the Iraq war and the outbreak of severe acute respiratory syndrome.
The nation's largest carrier posted a group net loss of 88.6 billion yen, compared with a group net profit of 11.6 billion yen a year earlier. The JAL group's consolidated revenue fell 7.3 percent to 1.93 trillion yen.
All Nippon Airways Co. group net profit for fiscal 2003 was 24.8 billion yen. The nation's No. 2 carrier returned to the black thanks to severe cost-cutting efforts.
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