Japan Airlines has reported a net loss of ¥63.1 billion (US$651.2 million) for the 2009 fiscal year ended 31 March, reversing a net profit of ¥16.9 billion a year earlier. JAL recorded a 12.5 per cent decline in group revenue to ¥1.95 trillion, while international cargo revenueslumped 23 per cent to ¥152.1 billion.

The company is forecasting further decreases in revenue of ¥203.1 billion in the current year but hopes to offset that with a ¥195 billion reduction in operating expenses and as a result expects operating income to be only marginally lower than the figures posted in FY09. It estimated that the net loss will be similar.