JAPAN: JAL makes accounts provisions

Japan Airlines is the latest carrier for potential fines from the EU and US price fixing probe. The airline said it has made accounts provisions of 20 billion yen (US$171 million). British Airways and Korean Air have already pleaded guilty to fixing passenger and cargo surcharges and have been hit with $300 million in fines. […]


Japan Airlines is the latest carrier for potential fines from the EU and US price fixing probe. The airline said it has made accounts provisions of 20 billion yen (US$171 million).

British Airways and Korean Air have already pleaded guilty to fixing passenger and cargo surcharges and have been hit with $300 million in fines.

JAL posted its second straight annual loss, 16.27 billion yen, last year and has been cutting staff and unprofitable routes. The airline expected to return to the black this year, with a group net profit of 7 billion yen in the financial year.