Japan Airlines (JAL) reported net income of ¥166.2 billion ($1.62 billion) for the financial year to March 31, 2014, down 5.4% from net income of ¥171.6 billion year-over-year. The airline said the profit drop was due to “a severe operating environment,” with the weakness of the Japanese yen pushing costs (especially for fuel) higher, increasing competition in both domestic and international markets, and the residual effects of the global economic downturn continuing to ...

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