StarFlyer yield down in FY2011, expects profit declines in FY2012

StarFlyer reported 15-May-2012) the following additional (financial highlights for the 12 months ended 31-Mar-2012:

• Yield: JPY18.0 (USD 22.79cents), -5.8% year-on-year;
• Revenue per ASK: JPY12.5 (USD 15.83cents), -8.1%;
• Cost per ASK: JPY11.8 (USD 14.94cents), -4.8%;
• Passenger numbers: 949,000, +36.7%;
• Load factor: 65.8%, -5.6 ppts;
• Fleet: Six, +1 aircraft;
• Employees: 514, +16.0%;
• FY2012 forecast:
  • Revenue: JPY26,846 million (USD340.0 million), +18.9%;
  • Operating profit: JPY749 million (USD9.5 million), -36.3%;
  • Net profit: JPY843 million (USD10.7 million), -12.7%;
  • Passenger numbers: 1.2 million, +31.5%;
  • Load factor: 68.7%, +2.9 ppts;
  • Number of flights: 16,111, +18.6%;
  • Yield: JPY17.5 (USD22.16 cents), -2.8%;
  • Revenue per ASK: JPY12.9 (USD 16.34 cents), +3.2%;
  • Cost per ASK: JPY12.5 (USD15.83 cents), +5.9%;
  • Employees: 655, +27.4%.

*Based on the average conversion rate at USD1 = JPY78.97 for the period

Looking ahead for the year ending 31-Mar-2012, the carrier also outlined the following outlook:

• Apr-2012: Took delivery of its seventh aircraft, an A320;
• May-2012: Scheduled to launch its international reservation system;
• Jul-2012: Launch inaugural international service from Kitakyushu to Busan;
• Aug-2012: Completion of in-house training facility and commencement of its in-house pilot training as part of its cost reduction plans;
• Dec-2012: Take delivery of its eighth aircraft, an A320;
• Mar-2013: Take delivery of its ninth aircraft, an A320.