JAL posts first post-pandemic annual airline profit


JAL posts first post-pandemic annual airline profit

Thursday, 02 May, 2023 0

Japan Airlines is finally back in the black.

It announced its first annual net airline profit in three years, since before the pandemic.

Japan’s no 2 airline posted a ¥34.4 billion ($250 million) net profit, a big turnaround from last year’s loss of ¥177 billion.

“Air passenger demand recovered steadily as the shift toward balancing the Covid-19 pandemic situation gained momentum,” the airline said.

It last posted a profit in March 2020.

JAL relisted on the Tokyo Stock Exchange in 2012.

The positive performance was through ‘comprehensive cost-cutting efforts and maximising sales in cargo,’ it said.

Its main rival ANA Holdings also just posted a first post-pandemic annual profit.

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