JAL Group resulted in more revenue, EBIT and net profit for the first half of FY2023 (April 1 to September 30) than the same period of FY2019 primarily because of better recovery of both international and domestic flight demands than initially expected.
Expecting that the trend will continue in the rest of this fiscal year, JAL has revised the full-year financial forecast upward and has decided to increase payment of a dividend from 40 JPY to 60 JPY.
JAL increased operating revenue by 32.7% year on year to 820.9 billion JPY (up 9.6% over the same period of FY2019) and EBIT from 200 million JPY a year ago to 91.2 billion JPY, and posted net profit of 61.6 billion JPY, even more than 54.1 billion JPY for the same period of FY2019, improving from net loss of 2,1 billion JPY a year ago.
International passenger flight revenue was up 92.6% year on year to 314.4 billion JPY (up 15.2% over the same period of FY2019) with about 3.3. million passengers, about 67% of the 2019 level.
Domestic passenger flight revenue was up 31.8% year on year to 275 billion JPY (down 3.7% over the same period of FY2019) with about 17.5 million passengers, about 90% of the 2019 level.
ZIPAIR, a LCC of JAL Group, increased revenue by 235.9% to 24.9 billion JPY with about 540,000 passengers, 3.3 times more than a year ago, and SPRING JAPAN, another LCC, also increased revenue by 80.1% to 6.6 billion JPY with about 390,000 passengers, 1.9 times more than a year ago,
The financial forecasts for the full year of FY2023 has been revised upward to operating revenue of 1.7 trillion JPY (26 million JPY more than previously announced), EBIT of 130 billion JPY (30 million JPY more than previously announced) and net profit of 80 billion JPY (25 billion more than previously announced).