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Japan Airlines Reports Fiscal First Quarter 2023 Net Profit of 23.0 Billion Yen

Japan Airlines has reported a fiscal first quarter 2023 net profit of 23.0 billion yen (US $161.3 million) on a year-over-year increase in revenue of 41.9 percent to 381.4 billion yen (US $2.7 billion).

Japan Airlines Airbus A350-900 - Courtesy Airbus

On Tuesday (August 1st, 2023), Japan Airlines announced their financial results for the fiscal first quarter ending June 30, 2023. The carrier reported a fiscal first quarter net profit of 23.0 billion (US $161.3 million) yen on a year-over-year increase in revenue of 41.9 percent to 381.4 billion yen (US $2.4 billion). JAL’s first quarter EBIT increased 58.9 percent compared to the same period last year to 31.3 billion yen (US $219.4 million). At June 30, 2023, the company had liquidity totaling 716.0 billion yen (US $5.0 billion).

During June 2023, Japan Airlines’ ZIPAIR LCC subsidiary introduced new service to San Francisco, their third U.S. West Coast route, as well as to Manila from July. In July 2023, JAL started new direct service between Tokyo-Haneda and Dalian, China. The carrier also announced the launch of new service between Haneda and Doha, Qatar for summer 2024, opening a new gateway to Europe, Africa and South America. For winter 2023/24, the carrier will also introduce new flagship Airbus A350-1000 service on the route between Tokyo-Haneda and New York-JFK, which will deliver a fuel reduction of 15-25 percent compared to current aircraft.

Japan Airlines' Fiscal First Quarter 2023 Financial Results - Courtesy Japan Airlines

Founded in 1951, Japan Airlines (JAL) became Japan’s first international airline. A member of the oneworld® global alliance, the carrier currently serves 411 airports in 60 countries and regions together with their codeshare partners with a modern fleet of 241 aircraft. JAL also operates three LCC subsidiaries, including ZIPAIR, SPRING JAPAN and Jetstar Japan. The carrier’s loyalty program, JAL Mileage Bank (JMB) is one of the largest mileage programs in Asia. Japan Airlines has been awarded as one of the most punctual major international airlines and holds a 5-Star rating from by Skytrax and a ‘World Class’ airline designation by APEX. JAL is committed to the highest levels of safety and quality in all aspects of service, and to becoming one of the most preferred airlines in the world.

Source: Japan Airlines


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