Japan Airlines returns to profit for HY1

Japan Airlines (JAL) has ended a loss-making period during the pandemic and produced both an operating and net profit for the first six months of FY23. The airline has raised its full-year guidance.

JAL reported a net profit attributable to shareholders of ¥61.671 billion compared to ¥-2.158 billion between March and September last year. Revenues were up to ¥820.9 billion from ¥618.5 billion. Operating expenses increased to ¥736.7 billion from ¥637.4 billion, with fuel costs up by 109.8 percent to ¥170 billion. The result is an operating profit of ¥88.387 billion, up from ¥-4.120 billion last year, and an EBIT margin of 11.1 percent. The results confirm a trend seen in the first quarter of FY23.