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.
Japan Airlines generated the highest revenues on its international network or ¥314.4 billion, up from ¥163.2 billion. The number of passengers grew by 189.1 percent to 3.3 million, with capacity in available seat kilometers up by 144.7 percent to 23.7 million. Yet, passenger numbers are still at 65 percent of pre-pandemic levels.
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