JAL to withhold annual business forecasts - Nikkei

TOKYO Nov 13 (Reuters) - Japan Airlines Corp 9205.T, which is seeking a state bailout, won't give annual forecasts when it reports its earnings on Friday due to uncertain business conditions, the Nikkei business daily said.

Saddled with $15 billion in debt, a massive pension deficit and dozens of unprofitable flight routes, JAL is now seeking its fourth state bailout since 2001 from the Enterprise Turnaround Initiative Corp, a government-backed turnaround fund. [ID:nT349661]

JAL, Asia's largest carrier by revenue, is due to announce its April-September results at 4:30 p.m. (0730 GMT). But it plans not to give out its latest annual projections, which it has provided in the past when announcing half-year results, the Nikkei said.

A JAL spokesman declined to comment before the earnings announcement.

JAL has previously projected a group operating loss of 59 billion yen for the year to next March. That compares with the 90 billion yen loss consensus from Thomson Reuters I/B/E/S.

Japan's government has pledged to enlist a state bank to offer bridge loans to prevent the carrier from running short of cash and keep the airline afloat. [ID:nT287070]

But analysts have said capital injections or additional financing alone won't improve the carrier's prospects due to its severely underfunded pension systems.

JAL's shares, which have nearly halved since the start of this year, were flat at 107 yen. The benchmark Nikkei 225 average .N225 shed 0.5 percent. (Reporting by Mariko Katsumura; Editing by Hugh Lawson)