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Shares of All Nippon Airways fell as much as 6 percent to a two-month low of 202 yen on Thursday after the carrier almost halved its operating profit forecast for the year ending March 2014.
The carrier cut its earnings estimate to 60 billion yen ($611 million) from a previous forecast of 110 billion yen, saying a weakened yen has hurt profits.
Rival Japan Airlines Co Ltd , which is to report its quarterly results later on Thursday, slipped 0.2 percent to 5,660 yen.
($1 = 98.1450 Japanese yen)
(Reporting by Dominic Lau; Editing by Richard Pullin)