Net profit of JAL rises to ¥85.87 bil

Friday, February 2, 2024

Today, Japan Airlines Co. said that its net profit for the nine months came to an end on December and its increased over fivefold from a year earlier to 85.87 billion yen. Cheers to a massive surge in travel demand, post-COVID.

The Japanese air carrier maintained its full-year earnings forecast, with its group net profit expected to rise 2.3-fold to 80 billion yen on sales of 1.68 trillion yen. This would be up 22.4 percent, giving signal to limited effect from the crash between one of its passenger jets and a Japan Coast Guard aircraft at the Haneda airport in Tokyo in January.

The company explained that it hopes to book an operating loss of almost 15 billion yen because of the damage of one of its backbone, Airbus A350 planes, that caught fire soon after all the passengers were removed.

JAL’s sales for the nine months increased to 24.2 percent to 1.25 trillion yen. This was the highest level since its relisting in 2012, in the middle of vigorous travel demand due to the elimination of border control actions in regard to the pandemic situation in April.

By segment, in its international flight business, revenues increased 64.3 percent as those in its domestic flight operations perked up 25.9 percent.

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