JAL expects 60% profit rise in further post-pandemic recovery
Japan Airlines Co on Tuesday forecast a 60% rise in net profit for the current business year as travel demand recovers further from the COVID-19 pandemic, and after swinging back to the black for the first time in three years. For the business year to March 2024, JAL expects a group net profit of 55b yen ($399.8m), compared with 34.4b yen last year. Nine analysts surveyed by Refinitiv forecast a mean profit of 75.3b yen. A pick-up in travel demand throughout the last fiscal year offset higher fuel costs to help Japan’s second-largest airline return to profit. Domestic demand is expected to return to 94% of pre-COVID levels during the current business year, while demand for international travel is seen recovering to 65%, the company said. Group revenue is expected to rise 20.5% to 1.66t yen, it said.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2023-05-03/oneworld/jal-expects-60-profit-rise-in-further-post-pandemic-recovery
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JAL expects 60% profit rise in further post-pandemic recovery
Japan Airlines Co on Tuesday forecast a 60% rise in net profit for the current business year as travel demand recovers further from the COVID-19 pandemic, and after swinging back to the black for the first time in three years. For the business year to March 2024, JAL expects a group net profit of 55b yen ($399.8m), compared with 34.4b yen last year. Nine analysts surveyed by Refinitiv forecast a mean profit of 75.3b yen. A pick-up in travel demand throughout the last fiscal year offset higher fuel costs to help Japan’s second-largest airline return to profit. Domestic demand is expected to return to 94% of pre-COVID levels during the current business year, while demand for international travel is seen recovering to 65%, the company said. Group revenue is expected to rise 20.5% to 1.66t yen, it said.<br/>
