TOKYO, May 16 (GCTL) - Japan Airlines (JAL), which went bankrupt two years ago in one of the country's biggest-ever corporate failures, on Monday logged an annual net profit of US$2.33 billion, thanks to cost-cutting efforts.
The carrier said that its net profit for the year till March was 186.6 billion yen (S$2.9 billion) on sales of 1.2 trillion yen, as a strong yen saw more Japanese people travel overseas, although demand was hit by last year's quake- tsunami disaster. It had forecast a 160 billion yen net profit.
"Amid uncertain economic uncertainty stemming from such factors as the earthquake of March 11, 2011 and Europe's debt problem, we have continued our efforts and have taken measures to further expand revenue and increase profitability," the airline said in a statement, AFP reported.
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