JAL WIDENS LOSS AS IT ACTS TO CHECK OUT OF HOTELS

JAL WIDENS LOSS AS IT ACTS TO CHECK OUT OF HOTELS

Japan Airlines, the nation's largest airline, reported a wider loss for the last fiscal year Friday because of anticipated losses on sales of its hotel and resort properties.

Its air travel results improved, however.JAL said it lost 94.2 billion yen ($678 million) in the year ended March 31 in contrast to a loss of 9.2 billion yen a year earlier.

Revenue rose 2 percent to 1.22 trillion yen ($8.8 billion) from 1.195 trillion yen last year.

The loss follows JAL's announced plans to sell hotels to concentrate on the airline business. The value of many of the hotels has fallen, forcing the airline to set aside money to cover losses it expects to incur when the properties are sold.

The latest results include setting aside 97.40 billion yen ($701 million) to cover losses on the planned sales.

JAL's operating profit soared nearly sevenfold to 31 billion yen ($223 million) from 4.56 billion yen a year earlier. Operating profit does not include deductions for taxes or one-time charges.