TOKYO, Feb 3 (NNN-NHK) – Japan Airlines (JAL), saw a 5.3-fold increase in net profit, for the period from Apr to Dec, 2023, year on year, according to the airliner’s financial results, yesterday.
The airline’s net profit soared to 858 billion yen (5.85 billion U.S. dollars) during the period, surpassing the levels seen in the pre-pandemic period of 2019.
During the nine months, JAL raked in revenue of 1.25 trillion yen, marking a substantial 24.2 percent increase from the same period of the previous year, which stands as the highest figure since the airline’s re-listing.
The airline benefited from a stronger yen and a decline in fuel prices, both of which exceeded the company’s initial projections, leading to effective cost containment and contributing to the overall profit surge.
The resurgence in international and domestic travel, following the gradual lifting of border controls and movement restrictions by May of the previous year, has significantly contributed to the recovery in passenger numbers for both international and domestic flights.
Also yesterday, JAL expected a revenue loss of around two billion yen, after last month’s crash at Tokyo’s Haneda Airport, where a large Airbus A350 jet operated by JAL collided with a much smaller plane of the Japan Coast Guard, killing five of the six crew on the coast guard plane.
Apart from losses due to days of runway shutdowns and flight disruptions, the company said, the amount also included losses incurred from having to take the A350 out of service.
Despite the impact of the accident, the major Japanese airliner maintained its full-year earnings forecast, with its group net profit set to grow 2.3-fold to 80 billion yen on sales of 1.68 trillion yen, up 22.4 percent.
The positive trend aligned with the announcement made earlier by ANA Holdings, which lifted its net profit forecast for the year ending March, citing improving travel demand. (1 U.S. dollar equals 146.65 Japanese yen)– NNN-NHK
