The management of Japan Airlines Corp. told shareholders Wednesday that they would not be able to pay a dividend this year and vowed to stabilize the trouble-plagued carrier.
Japan's largest airline concluded the business year that ended in March with a consolidated net loss of 47.2 billion yen and an operating loss of 26.8 billion yen.
Citing high fuel prices and a spate of safety-related problems that caused many customers to switch to other carriers, JAL's departing chief executive officer, Toshiyuki Shinmachi, asked investors at the annual shareholders' meeting to be patient.
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