Jal Posts Big Loss

Buffeted by the high yen and tough competition, Japan’s largest airline reported a $173 million net loss for the fiscal year ended March 31.

Japan Airlines Co., the country’s flagship carrier until it was made private in 1987, has been reducing costs but faces tough competition at home and abroad. The company had $15.9 billion in sales.

The results were much better than a year earlier, when the company lost $443 million on sales of $14.8 billion in sales.

On international routes, the airline has faced tough competition from carriers whose fixed costs are lower because they are based outside Japan.