News
Japan Airlines posts US$410 million first half net profit, lifts earnings guidance
November 1st 2023
JAL Group, the parent company of Japan Airlines (JAL), has posted a net profit of 61.7 billion yen (US$410 million) for the six months to September 30 against a net loss of 2.1 billion yen in interim 2022. Read More » Revenue rose 32.7%, to 820.9 billion yen, JAL Group said in a regulatory filing. The company noted earnings before interest and tax (EBIT), net profit and revenue were above pre-pandemic levels. JAL Group said COVID-19 was “finally coming to an end”, given international border restrictions had ended, domestic restrictions had been lifted and events had been resumed in various parts of the country. “Passenger demand is exceeding our initial expectations. In addition to strong inbound international passenger demand, outbound business demand from Japan is showing signs of recovery. Domestic passenger demand already has recovered to pre-pandemic levels, especially tourism demand,” JAL Group said. “On the other hand, the surrounding environment is becoming increasingly severe due to the weak yen, high fuel prices, inflation, staff shortages and resources, disruptions in the supply chain for aircraft parts and other products and unstable global conditions. Balancing all these factors, JAL Group has increased its earnings guidance for its fiscal year (March 31, 2024) with a net profit forecast at around 80 billion yen, up 45.5% from previous guidance of 55 billion yen. Revenue is calculated to 1.684 trillion yen, an increase of 1.6% from the previous forecast of 1.658 trillion yen. JAL Group has declared an interim dividend of 30 yen per share.
