Japan Airlines Co., Ltd. (JAPSY.OB) Thursday reported higher earnings and revenue for the third quarter, on higher volumes across all domains of the company.
Further, the company maintained its outlook for fiscal 2023.
Quarterly earnings jumped 426.4 percent to 85.8 billion Japanese Yen from 16.3 billion yen of last year, on flight resumptions that increased the supply volume by around 20 percent year over year.
EBIT increased to 128.9 billion yen from 34.7 billion in the previous year, bringing up the margin to 10.3 percent from 3.5 percent.
Revenue climbed 24.2 percent to 1249.3 billion yen from 1005.5 billion in the previous year.
International passenger revenue grew 64.3 percent to 471.7 billion yen from 287.1 billion yen in the prior year.
International Revenue passenger kilometers surged 47 percent to 28,124 MN passenger km from 19,130 MN passenger km over a year ago.
International Available seat kilometers increased 31.5 percent to 35,574 MN seat km from 27,055 MN seat km of last year.
Domestically, passenger revenue grew 25.9 percent to 422.4 billion yen from 335.5 billion yen.
Revenue passenger kilometers climbed 17.8 percent to 20,208 MN passenger km from 17148 MN passenger km while Available seat kilometers stayed flat at 26565 MN seat km.
Looking forward to the full year, the company continues to expect 800 billion yen in earnings, 130 billion yen in EBIT and 1,684 billion yen in revenues. However, due to the closure of Runway C at Haneda Airport the company is now anticipating to reduce revenues by approximately 2 billion yen.
Today, JAL shares closed at JPY 2868.50, up 0.05% in Japan.
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