Japan Airlines System Corporation has posted a surprise operating profit for the FY0203 as stronger cargo demand offset a decline in passenger numbers.

The airline posted a Y22 billion / US$188 906 062 loss for the full year. However, operating profit was Y10.6 billion / US$91 018 375 compared with a loss of Y1 billion / US$8 586 639.

Net profit of Y11.65 billion / US$100 034 347 was reported due to one-off rebates on planes bought. The forecast for this year by the airline is a loss of Y43 billion / US$369 225 485.

More information at the Reuters / Yahoo website

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[Edited 2003-05-16 09:31:30]