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Skymark Airlines downgrades FY2013 financial forecast as competition intensifies

18-Oct-2013 9:57 AM

Skymark Airlines downgraded (17-Oct-2013) its FY2013 ending 31-Mar-2014 financial forecast as follows:

  • Revenue: JPY91,100 million (USD1098 million), down from its previous forecast of JPY95,100 million (USD1146 million);
  • Operating profit: JPY2300 million (USD27.7 million), down from its previous forecast of JPY5800 million (USD69.9 million);
  • Net profit: JPY2000 million (USD24.1 million), down from its previous forecast of JPY3300 million (USD39.8 million);
  • Earnings per share: JPY21.99 (USD 26.5 cents), down from its previous forecast of JPY36.29 (USD 43.7 cents).  [more - original PR - Japanese]

The carrier attributed the downgrade to increased competition in the year to date, which has resulted in passenger numbers and revenue falling short of targets.