Japan Airlines 787. Courtesy, Boeing

The JAL Group reported a consolidated net profit of ¥186.6 billion ($2.33 billion) in the fiscal year 2011, which ended March 31.

Operating revenue was ¥1.205 trillion while expenses were ¥999.8 billion, producing an operating income of ¥204.9 billion.

The company said it was badly impacted by the aftermath of the earthquake and tsunami that hit Japan in March 2011 as well as floods in Thailand later in the year. Balancing this, the strong yen boosted tourist traffic and some routes, such as India, showed growth.

Consolidated international passenger capacity declined 16.8% for the reporting period when measured in ASKs; demand declined 20.3% in terms of RPKs year-over-year.

Domestic passenger capacity fell 13.5% in terms of ASKs and demand reduced 12.3% in terms of RPKs compared to the year-ago period. Load factor was 0.8 points, up 62.7% from the same period last year. 

“The outlook for fiscal year 2012 is uncertain due to the prevailing economic situation faced by the company, such as concerns of a downward swing in the global economy due to the European financial crisis and rising fuel prices caused by geopolitical risks in the Middle East,” JAL said in a statement. However, JAL said the operating environment is “entering a new phase with the launch of JAL’s Boeing 787 Dreamliners and the entry of low-cost carriers into the Japanese market.”