Japan Airlines Reports Profit for Nine Months, Cuts 2022 Guidance

Tokyo — Japan Airlines reported a turnaround to profit for the nine-month period to December 31, 2022, with rising revenues thanks to greater passenger demand.

In addition, the company has revised down its full-year forecast. For the nine-month period, the Japanese firm reported a profit of 16.3 billion yen ($1.27 billion), compared with a loss of 128.3 billion yen posted for the same period of previous year.

The airline said earnings before interest, taxes (EBIT) were 34.7 billion yen as against a loss of 183.3 billion yen of previous year. Operating expenses rose to 990.1 billion yen from last year's 687.9 billion yen.

The group generated revenue of 1.005 trillion yen, compared with 498.4 billion yen of last year period.

Looking ahead, for the fiscal year 2022, the company has revised down its guidance to reflect the recent trend in air transport demand. For the full-year, the profit outlook has been revised to 25 billion yen, a decrease of 20 billion yen from the previous forecast. Full-year EBIT guidance has been decreased to 50 billion yen, a reduction of 30 billion yen from the previous guidance.

The group has also slashed revenue guidance to 1 trillion yen-358 billion yen, a decrease of 46 billion yen from the previous forecast. The company expects to pay year-end per share dividend of 20 yen.

©2023 dpa GmbH. Distributed by Tribune Content Agency, LLC.