JAL Group 1QFY2009 revenue down 31.7%

JAL Group revenue down 31.7% - financial highlights for the three months ended 30-Jun-2009:

• Operating revenue: USD3,439 million, -31.7% year-on-year;
  • International passenger: USD999.5 million, -46.1%;
  • Domestic passenger: USD1,347 million, -14.7%;
  • International cargo: USD204.4 million, -56.2%;
  • Other: USD887.5 million, -21.9%;
• Operating costs: USD4,325 million, -13.4%;
• Operating profit (loss): (USD884.4 million), compared to a profit of USD40.1 million in the previous corresponding period;
• Net profit (loss): (USD1,017 million), compared to a loss of USD34.9 million in the previous corresponding period;
• FY2009/2010 forecast:
  • Revenue: USD17,956 million, -10.4%;
  • Operating profit (loss): (USD606.1 million);
  • Net profit (loss): (USD647.1 million).
• *Based on the conversion rate at USD1 = JPY97.35

JAL also reports on the following traffic highlights:

• Jun-2009:
  • Passenger numbers:
    • Domestic: 2.8 million, -14.7% year-on-year;
    • International: 749,170, -24.8%;
  • Load factor:
    • Domestic: 54.4%;
    • International: 58.9%,
• Three months ended 30-Jun-2009:
  • Passenger numbers:
    • Domestic: 8.6 million, -13.4%;
    • International: 2.4 million, -17.4%;
  • Load factor:
    • Domestic:54.6%;
    • International: 60.2%;
  • Cargo traffic (FTKs): -21.6%;
    • Domestic: -13.3%;
    • International: -23.8%.

JAL: "Leisure passenger demand shows sign of recovery as fear of a pandemic recedes, and also supported by the removal of fuel surcharges for travel between July and September as well as the yen's appreciation. Furthermore, Silver Week occurs this September, when there will be a string of 5 consecutive holidays comprising Japanese national holidays and a weekend. Travel during this period, which does not occur annually, is expected to help push up figures in the second half. While business travel is projected to remain slow, JAL will persevere in the drastic adjustments to our network, down-sizing our aircraft, and implementing "nothing-off-limits" cost-cutting measures to improve profitability. At present, the JAL Group will maintain the targets of an operating revenue of 1,748 billion yen, operating loss of JPY59 billion, ordinary loss of JPY108 billion, and an overall net loss of JPY63 billion for the consolidated financial results of FY2009 as per announced in the FY2009 Management Plan issued on 12-May-2009," Company statement. Source: Japan Airlines, 07-Aug-2009.