Japan Airlines (JAL) has announced its consolidated financial results for the April to June period of 2024, reporting a net profit of 13.9 billion yen.
Revenue reached 424 billion yen (an 11.2% increase from the same period last year), operating expenses were 406.1 billion yen (a 15% increase), and profit before financial and corporate income taxes (EBIT) was 22.1 billion yen (a 29.5% decrease). The net profit decreased by 39.4% from the same period last year, due to increases in fuel costs, labor costs, and operating expenses.
Revenue by segment showed increases across the board compared to the same period last year, with full-service carrier operations at 334.6 billion yen, LCC passenger business at 24.7 billion yen, miles/finance & commerce business at 46 billion yen, and others at 54.7 billion yen.
In the full-service business, international passenger unit prices remained at a high level similar to the same period last year, while domestic passenger saw a decrease in group travelers but a 9.5% improvement in unit price. The cargo postal business saw double-digit increases in both transport volume and revenue, thanks to the introduction of cargo-only flights. In the LCC business, ZIPAIR Tokyo expanded its profit margin, and Spring Japan’s paid passenger count increased by 76.6% due to capturing demand from China. The miles/finance & commerce business saw a 4.8% increase from the same period last year due to an increase in issued miles and higher revenue from airport stores and e-commerce sites.
The full-year financial outlook remains unchanged, with expected revenue of 1.93 trillion yen, EBIT of 170 billion yen, and net profit of 100 billion yen.
