Japan Airlines Expects $105m Loss Following Tokyo Accident

Japan Airlines believes that due to the accident in Tokyo Haneda, they are estimating that a $105m loss will be reported.

The accident of JL516 colliding with a Coast Guard aircraft started the New Year off on a rather negative note for the industry.

Without further ado, let’s get into it…

Japan Airlines Expects $105m Loss Following Tokyo Accident…

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As per Nikkei, the 15 billion yen ($105m) operating loss is expected to put the Tokyo-based airline not on the footing they expected to end the financial year on.

However, such extreme losses from losing the Airbus A350-900 will be covered by insurance company AIG, of which this is valued at around $130m with Japan Airlines.

Such losses to be taken by the airline will be the cancellation in services following the accident and the disruption caused by this, as well as whether they may need to pay compensation to the 379 passengers onboard the aircraft at the time.

Investigators from the JTSB continue to assess all of the available information to them, with the aircraft wreckage now being cleared for further analysis and so then the runway can be officially cleared too.

Operations have been significantly disrupted at Tokyo Haneda following the incident, with significant delays and cancellations causing uncertainty for passengers at this time.

Looking ahead, all eyes will be on what the financial results for Japan Airlines will look like following this accident, as well as what more will be uncovered by the investigators.