A mixture of asset write-downs, restructuring, consolidation and recovery is on the cards for the Japanese airfreight sector, according to a new report from Business Monitor International . The bankrupt Japan Airlines (JAL), Asia’s largest air carrier, was expected to have registered an operating loss of nearly US$1.7 billion in the fiscal year ended 31 March 2010. This was attributed to a sharp decline in revenues resulting from a rapid slowdown in the Japanese economy. After 2009’s very steep falls in volumes, the Japanese airfreight sector is now enjoying a recovery, according to BMI, which is forecasting cargo volumes to grow by 2.5 per cent in 2010, a small improvement after 2009’s 10.9 per cent slump, but “nevertheless a move in the right direction”, according to the report. Air freight carried (volume x distance) will rise a little more strongly, up by 4.8 per cent.
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