Japan Airlines 777-300ER. By Rob Finlayson
Japan Airlines’ JAL Group reported consolidated net income of ¥146 billion ($1.92 billion) for the period April 1-Dec. 31, 2011, the first three quarters of the fiscal year ending March 31.
The Group reported total operating revenue of ¥909.1 billion, operating costs of ¥747.4 billion and operating income of ¥161.6 billion. Net figures and results for the prior fiscal year were not supplied.
Japan Airlines in March 2011 completed its court-monitored bankruptcy restructuring under Japan's Corporate Rehabilitation Law, and also announced more flight reductions as it dealt with a steep drop in demand in the aftermath of the March earthquake and tsunami (ATW Daily News, March 28, 2011).
According to a statement, JAL said it “continued to review aircraft scheduling on each route and enforced measures to increase revenues while examining every cost category to achieve greater cost reduction, such as in fuel costs. Profit consciousness of each department has also been enhanced through the implementation of a new revenue management system introduced last April, which has helped to increase management efficiency” (ATW, May 1, 2011).
JAL said consolidated international capacity declined year-over-year by 21.2% ASKs, and RPKs were down 27.5%. Load factor was 68.8%, down 6 points on the year-ago period. Revenue from international passenger operations for the first three quarters of the fiscal year on a consolidated basis was ¥288.9 billion, representing 31.8% of total revenue.
Domestic ASKs declined 17.7% year-over-year, while RPKs declined 16.9%. Load factor rose slightly to 63.3%. Domestic passenger revenue in the first three quarters of the fiscal year on a consolidated basis was ¥367.2 billion, representing 40.4% of total revenue, the company said in a statement.