Japan Airlines CEO Tottori Describes Weak Yen as a ‘Big Problem' [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
that a stronger rate than the current level of around ¥155 to the dollar would be better. “We often discuss that the yen at the 130 level will be good,” Tottori said at the company's headquarters in Tokyo on Wednesday, adding that much of the airline's expenses are in foreign currency. “It's a big problem.” Tottori, a former flight attendant, became Japan Airlines' first female president on April 1. The carrier announced last month an order to buy 42 new Boeing Co. and Airbus SE jets in a multibillion dollar order to expand its international network. The Japanese currency, which is trading at 34-year-low, is also hurting outbound travel, Tottori said. Younger people will venture less outside Japan because of the weaker yen, Tottori said. In conversations with other companies, the CEO said she hears that an exchange rate of ¥130 to ¥140 to the dollar would be more desirable. Read More: Japan Airlines' First Woman President Was Former Cabin Crew Although Airbus made up the lar
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