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TOKYO - JAPAN Airlines, Asia's largest carrier, said onTuesday that its net profits soared almost five-fold in the first half of the financial year, helped by cost-cutting efforts.
Operating profits meanwhile surged almost seven-fold despite a drop in revenue, prompting JAL to raise its full-year target.
Net profit jumped to 7.3 billion yen (S$92.8 million) in the six months to September from 1.5 billion a year earlier, JAL said in a statement.
Operating profit soared to 56.6 billion yen from 8.1 billion despite a 0.6 per cent drop in revenue to 1.14 trillion yen.
JAL hiked its forecast for operating profit for the full financial year to next March to 48 billion yen from a previous target of 35 billion, but left its projection for net earnings unchanged at 7.0 billion yen.
Asia's largest carrier, which made losses in the previous two fiscal years, has been on a restructuring drive, axing unprofitable routes, cutting jobs and downsizing aircraft. -- AFP
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