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Japan Airlines posts US$14.2 million loss; records international travel rebound
November 2nd 2022
Japan Airlines (JAL) has announced a net loss of 2.1 billion yen (US$14.2 million) for the three months to September 30 compared with a 104.9 billion yen net loss in the same quarter in 2021. Read More » Revenue declined 17.4%, to 618.5 billion yen, JAL reported to the Tokyo Stock Exchange. “Both international and domestic passenger demand is steadily recovering as a result of balancing the prevention of the COVID-19 pandemic with socio-economic activities,” the airline said.
In its outlook notes, JAL said it will maintain its May forecast of a 45 billion yen profit for its 2022-2023 year. The flag carrier recorded a net loss of 177.5 billion yen for the 12 months to March 31. It also lifted its forecast for annual revenue by 1%, to 1.404 trillion yen, from 1.39 trillion yen previously. “We forecast domestic passenger revenue to be less than the initial forecast from the impact of the seventh wave of the COVID-19 pandemic. But we predict international passenger revenue will exceed the initial forecast due to a sharp recovery in business travel from Japan and inbound demand after the drastic relaxation and elimination of border restrictions,” JAL said.
