JAL reports 17.5% net profit drop on deferred taxes
Japan Airlines Group’s net profit dropped 17.5% in the fiscal year ending March 31, although it saw a 2.5% rise in its operating profit for the same period. Despite the decline, JAL still recorded a net profit of JPY135.4b (US$1.27b) for the fiscal year. The drop was mainly the result of deferred taxes from the previous year, the carrier said. Excluding special items, the operating profit increased year-on-year to JPY174.5b. Group revenue increased 7.3% to JPY1.4t, with expenses up 8.1% driven by higher fuel prices. Demand remained strong in domestic and international markets because of “moderate economic recovery trends.” International passenger revenue rose 11.5% YOY to JPY462.9b. International traffic increased 3.4% on a 2.4% capacity gain, resulting in load factor rising 0.8 point to a record 81%. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-04-30/oneworld/jal-reports-17-5-net-profit-drop-on-deferred-taxes
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JAL reports 17.5% net profit drop on deferred taxes
Japan Airlines Group’s net profit dropped 17.5% in the fiscal year ending March 31, although it saw a 2.5% rise in its operating profit for the same period. Despite the decline, JAL still recorded a net profit of JPY135.4b (US$1.27b) for the fiscal year. The drop was mainly the result of deferred taxes from the previous year, the carrier said. Excluding special items, the operating profit increased year-on-year to JPY174.5b. Group revenue increased 7.3% to JPY1.4t, with expenses up 8.1% driven by higher fuel prices. Demand remained strong in domestic and international markets because of “moderate economic recovery trends.” International passenger revenue rose 11.5% YOY to JPY462.9b. International traffic increased 3.4% on a 2.4% capacity gain, resulting in load factor rising 0.8 point to a record 81%. <br/>
