Business / Corporate

JAL posts 32.9% climb in group net profit for April-June quarter

Kyodo

Japan Airlines Co. said Monday that group net profit rose 32.9 percent in the April-June quarter to ¥19.56 billion ($176.95 million) on strong demand for both international and domestic flights.

The nation’s second-biggest carrier also said group operating profit rose 12.0 percent to ¥24.75 billion on sales of ¥314.82 billion, up 5.9 percent from the previous year.

Overseas flight revenue rose 6.1 percent following the April launch of its first daily flight between Tokyo’s Haneda airport and New York since 1978. Demand for long-distance flights also grew after passengers put off overseas travel after the terrorist attacks in Europe the previous year, the carrier said.

Domestic flight revenue rose 6.1 percent, recovering from the impact of the earthquakes that struck Kumamoto and Oita prefectures in April 2016, which curtailed travel to the region, JAL said.

For the business year through next March, JAL revised its group net profit upward to ¥108 billion from ¥100 billion announced in April due to lower-than-expected oil prices. Group operating profit for the year through March was upgraded to ¥153 billion from ¥142 billion, on sales of ¥1.35 trillion, up from ¥1.34 trillion.

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