Japan Airlines and ANA Soar as Business Travel to the US Surges Amid Tariff Shifts

Published on September 20, 2025

The impact of Donald Trump’s tariffs on global trade has reshaped supply chains and driven a surge in business travel. As companies reassess their production strategies and increase their presence in the United States, Japan’s national carriers, Japan Airlines (JAL) and All Nippon Airways (ANA), are seeing a significant uptick in outbound travel, particularly in premium sectors like business and first-class.

The demand for long-haul flights, especially to North America, has surged, benefiting both airlines as executives and corporate travelers fly more frequently. Japan’s manufacturing sector has been particularly active in increasing its U.S. investments and adapting to the new trade environment, all of which has fueled this rise in business travel.

The Shift in Travel Patterns: Tariffs and Business Demand

The tariffs imposed by the Trump administration have forced Japanese manufacturers to rethink their supply chains, leading to increased demand for business travel to the U.S. In particular, Japanese residents traveling to the U.S. on business visas have seen a notable increase. According to the International Trade Administration, the number of business travelers from Japan to the U.S. rose by 28 percent in July compared to April, jumping from 23,490 to 30,035 individuals.

As companies shift production away from China and reassess their strategies in light of the tariffs, more executives are traveling to meet with customers and partners directly. This shift is further evidenced by data from Bloomberg Intelligence, which shows that business class bookings have risen by mid-teens percentages compared to the previous year.

Japan’s outbound travel demand is recovering rapidly, with overall demand for overseas trips by Japanese residents rising 14 percent this year, according to Japan National Tourism Organization data. This recovery is still some way from the pre-pandemic levels of 2019, but the trajectory is promising, particularly as more corporate entities turn to international travel as a necessary means of adjusting to the evolving business landscape.

Boost in Airline Profits from Corporate Travel

For Japan Airlines and ANA, the increase in corporate travel has been a key driver of their revenue growth. JAL, for instance, has reported its highest operating profit since its 2012 IPO, more than doubling from the previous year. The airline has also seen a significant rise in outbound corporate travel, which now accounts for more than 15 percent of its international revenue. Corporate travel’s high yields have allowed JAL to maintain elevated airfares, particularly for long-haul flights to destinations like the U.S.

The increase in demand has led JAL to make strategic moves, such as resuming its Narita–Chicago route in May and increasing capacity by swapping in larger aircraft on the Haneda–Los Angeles route in June. Both JAL and ANA have expressed plans to expand their international routes further in the second half of the year, responding to sustained growth in premium travel demand.

Changing Japanese Manufacturing Footprint

Behind the boom in business travel is a broader reshaping of Japan’s industrial footprint. Manufacturers are increasingly relocating or expanding their operations in the U.S. to mitigate the impact of tariffs and capture North American demand. Companies such as Bridgestone, Toyo Tire, and Honda are ramping up production in the U.S. to offset tariff-related costs, while Subaru has announced that expanding capacity in the U.S. is now “inevitable.”

These shifts in manufacturing and production have increased the demand for business travel to the U.S. as executives and managers from these companies travel to meet with clients and finalize deals. The influx of corporate travel has directly impacted JAL and ANA, who have benefited from the surge in business-class bookings.

JAL and ANA’s Strategic Responses

Japan Airlines has made strategic decisions to accommodate the surge in business-class demand, including the addition of larger business-class sections on certain flights. The airline resumed flights on high-demand routes such as Narita–Chicago, and Haneda–Los Angeles flights have seen larger aircraft deployed to meet the growing demand.

ANA has also reaped the rewards of increased corporate travel, although its broader range of international destinations, including weaker demand from Europe, has slightly impacted its profits compared to JAL, which has focused heavily on transpacific routes. ANA’s reliance on cargo and a broader range of international markets may present challenges, but the company is optimistic about continuing its growth trajectory.

According to JPMorgan analyst Ryota Himeno, the growth in international travel is expected to continue, especially as Japanese manufacturers ramp up their U.S. investments and production shifts. The increased demand for premium travel and business-class flights remains a driving force behind the profitability of Japan’s airlines.

JAL and ANA’s Future Outlook

Both JAL and ANA are optimistic about their prospects for the coming months. JAL’s operating profit for the second quarter is expected to increase to 72.1 billion yen (US$490 million), marking the highest profit since 2018. Similarly, ANA’s first-half operating income is forecast to reach 62 percent of its full-year target, signaling strong growth despite global uncertainties.

Both airlines are poised to raise their full-year outlook later this year, should the demand for international travel and premium bookings continue at this pace. The airlines remain focused on expanding international routes and enhancing their business-class offerings to capitalize on the growing corporate travel demand.

Conclusion: Japan’s Airlines Lead the Way Amid Tariff-Induced Shifts

In the wake of Donald Trump’s tariffs, Japan Airlines and ANA have positioned themselves as leaders in the premium travel sector, benefiting from the surge in outbound business travel to the U.S. and beyond. The ongoing reshaping of Japan’s manufacturing and supply chains, driven by tariff-related shifts, has created a perfect storm of opportunity for Japan’s national carriers. As more manufacturers increase their U.S. operations and corporate executives increase travel to North America, JAL and ANA are set to continue reaping the rewards of this demand.