JAL expects to move into black 1 year earlier

TOKYO —

Struggling Japan Airlines Corp expects it will move into the black on a consolidated basis for the first time in three years in the current fiscal year through next March, one year earlier than initially planned, sources familiar with the matter said. JAL has included the forecast of 22 billion yen in operating profit in its draft income and expense plan, submitted to its main lenders, the sources said.

It will be the pillar of JAL’s rehabilitation program to be presented to the Tokyo District Court by the end of August, with the airline apparently aiming to attract additional loans from the banks to achieve management health. JAL is undergoing a state-backed rehabilitation process after filing for bankruptcy protection on Jan 19.

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