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Indiaexportnews.com

Japan Airlines' Q1 net profit soars 111pc

  17.08.2012    

Japan Airlines' consolidated net income soared 111.2 per cent in the first quarter of fiscal 2012, which started from April 1 to June 30, compared to the same period a year earlier to JPY26.9 billion (US$343.53 million).
The surge in earnings came on the back of recovering passenger traffic with overall international demand rising 28 per cent between April 1 and June 30 compared to the same quarter a year earlier; and stringent cost-cutting measures.
Total consolidated operating revenue in the first quarter of FY2012 rose 12.5 per cent year on year to JPY286.7 billion.
The carrier's revenue from both international and domestic cargo operations in the April-June quarter fell 2.2 per cent year on year to US$241.77 million.
The airline's group operating income was up 83.1 per cent during the quarter under review to US$397.47 million.
With regard to the performance of the company's international cargo operations in the first quarter of the current fiscal year, JAL said in a release: "The overall demand for international cargo operations was stagnant due in part to the European economy. However, JAL was able to maximise revenue through optimal use of cargo compartments on passenger aircraft.
"As part of the measures, JAL improved international and domestic flight connection services at Tokyo, responded to the demand for transportation of perishables from the US, and improved temperature controlled transport services of high value freight shipments such as pharmaceuticals."
International and domestic cargo transported during the reporting period and measured in revenue-cargo-ton-kilometres (RCTK) increased 2.5 per cent from the same period a year earlier, but declined in revenue by JPY0.4 billion to JPY19.1 billion.
JAL left unchanged its group revenue and profit forecasts for the whole of fiscal 2012, which were earlier announced on May 14. The company is anticipating: $15.44 billion in operating revenue, up 1.3 per cent from fiscal 2011; US$1.90 billion in operating income, down 26.8 per cent; and US$1.65 billion in net income, down 30.3 per cent year on year, reports The Journal of Commerce Online.
As a further indication that the carrier is recovering from bankruptcy, after filing for bankruptcy protection in January 2010 and subsequently exiting in March 2011, the airline plans to re-list on the Tokyo Stock Exchange in September, according to the Shipping Gazette. 


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