Japan’s two largest airlines on Tuesday posted a significant recovery in their profits in the April-September period, as demand continued to rise amid the removal of COVID-19 restrictions in the country.
ANA Holdings Inc. saw its organization’s net profit quadruple from a year earlier to 93. 21 billion yen on the part, while Japan Airlines Co. It posted a consolidated net profit of 61. 67 billion yen, a record for the first part of the year since the Tokyo Stock Exchange’s indexed corporate in 2012.
Helped by an increase in the number of domestic and foreign travelers, ANA said its operating profit also quadrupled from a year earlier to 129. 74 billion yen, a record for a six-month period. Sales increased from 26. 8 to 1 trillion yen.
“The increase in profits from foreign flight operations and charges contributed to a record profit,” ANA President Koji Shibata told a news conference.
In May, Japan reduced the legal prestige of COVID-19 to the same point as that of seasonal influenza, prompting many other people to travel locally and abroad. Inbound tourists are also on the rise after the country particularly eased its border controls last fall.
Passenger numbers on domestic flights have returned to about 90% of their pre-pandemic point of 2019, and passenger numbers on flights have returned to about 70%, ANA said.
While leaving its full-year profit forecast unchanged due to the prospect of strong demand, ANA said it would cut a total of around 30 domestic and foreign flights consistent with the day from Jan. 10 to March 30 for engine inspections, after U. S. engine maker Pratt
The flight cuts, which will affect facilities between Tokyo and Seoul, among others, will cause annual sales to drop by 8 billion yen, the company said.
ANA said it expects a profit of 80 billion yen on a cash inflow of 1. 97 trillion yen for fiscal 2023.
Meanwhile, JAL returned to positive numbers for the first time in four years between April and September, after posting an organizational loss of 2. 16 billion yen a year earlier. Sales rose 32. 7% to 820. 94 billion yen.
Given the strong demand, JAL raised its profit forecast for the current fiscal year through March to 80 billion yen from a previous estimate of 55 billion yen. Sales are now projected at 1. 68 trillion yen, up from 1. 66 trillion yen previously projected.
“Although there are considerations about the oil and currency markets, we expect to maximize profits by reducing prices and taking advantage of physically powerful demand,” Yuji Saito, JAL’s chief monetary officer, told reporters.
The airline expects oil prices to rise towards the end of the fiscal year amid ongoing wars in the Middle East and Ukraine, while a weak yen hurts outbound demands from Japan, according to the company.
Abusive prices for the foreign cartels to which they belong?
ANA Holdings Inc. saw its group’s net profit quadruple from a year earlier to 93. 21 billion yen ($620 million) on the side, while Japan Airlines Co. It reported a consolidated net profit of 61. 67 billion yen, a record for the group. the first part of the year since the company was relisted on the Tokyo Stock Exchange in 2012. *
Such a profit may give the impression that airline ticket prices are too high and that ANA and JAL are defrauding/exploiting/scamming their customers.
Maybe it’s time for them to cut their costs again.
Parasites who are in the business of borrowing money!
I just booked a valuable ticket for the winter holidays. The value is almost double what it was 5 or 10 years ago.
The value of the ticket itself is about 1/3, plus fuel surcharges, taxes, etc.
Low prices for some airlines now mean no baggage can be checked, no seat selection, no adjustments or refunds allowed, and additional fees must be paid via credit card or other services. Everything that was included in the price in the past
All airlines have increased their fares abusively. Governments can do anything. Flying is not a civil right, but it is something that only Japan’s wealthy can do.
It turns out that few people will celebrate their exaggerated profits, their shareholders. Moreover, with all the incentives to “go travel,” those ungrateful corporations also let the taxpayer down when times were tough, without any thanks. Really parasites.
JAL had to file for the Japanese equivalent of Chapter Nine in 2010, and after a massive injection of public budget, it was able to list again. I wonder if that public budget has already been reimbursed or if it even had to be reimbursed. Pampered, ANA abandoned its own apparatus to continue operating and generating profits.
And now it’s time to set the overall costs of the tickets. . . .
There are no surprises there. Tweedle dum and tweedle dee are world-class awards. Collect airfares in the world.
We are paying for their losses during covid, and they are in power, charging what they want.
This shows that all corporations will come back for revenge. They have been bleeding for 3 years. Today, they’re recouping those losses, at the expense of customers. Ticket prices may not go down for a few years until they fully recoup what they lost. “
If you can’t pay, don’t fly. There will be many who will. “
All Covid has done is increase the greed of the cartels.
A recovery in profits, and yet JAL and ANA have just announced massive oil surcharge hikes just in time for the peak holiday season. Merry Christmas.
“JAL had to file for the Japanese equivalent of Chapter Nine in 2010, and after a massive injection of public budget, it was able to go public again. I wonder if that public budget was ever reimbursed or if it even had to be reimbursed. “
Yes, I ask myself the question. Anyone who knows?
Japan’s two largest airlines reported a recovery in profits on Tuesday.
With government subsidies and it worth fixing, is this surprising?I think it’s time for those corporations to give their “loans” to other people, and in the meantime, the other people vote with the ones they worked so hard to earn and refuse to use their funds. -Called services.
Is a net profit of ONLY 61. 67 billion yen, my dog, enough to feed the greed of a few?The costs possibly wouldn’t change, they’ll keep ripping off their passengers as long as they can.
@Moonraker: You’ve lost me. What foreign cartels are you talking about?In fact, JAL was rescued a few years ago.
Ideal for the economy and companies dedicated to tourism. It was evident that when Japan lifted COVID restrictions and opened its borders, it was going to attract a ton of tourists. It had been almost 3 years since Japan shut down or got COVID free. -Related restrictions.
I just don’t play along.
I just booked a circular ticket from Haneda to Paris for less than €344 (¥55,000), with a 4-hour connection in Guangzhou.
Am I stupid enough to pay more than 240,000 yen to JAL or ANA for the same flight just because it would take me a few more hours?AIR France would be more or less the same.
Today, most people are sheep and don’t know how to do calculations.
So, is there such a thing as overcharging your consumers?