Monday, February 3, 2014

ANA and JAL also impacted by devaluated Yen.

Japan Airlines (JL/JAL) and All Nippon Airways’ (NH/ANA) parent ANA Holdings announced their consolidated financial results for the nine months from April to December 2013, and both reported decreased revenue due to the rapid devaluation of the Japanese Yen (JPY) that increased fuel costs as well as landing fees abroad. 

JAL reported a 137.4 billion JPY operating profit, a 13% decrease over the same period in 2012, and ANA 69 billion JPY, a 36% decrease. JAL estimated loss attributed by the devaluation of the currency at 35.9 billion JPY, and ANA at 14.5 billion JPY. However, both airlines said they were doing better than earlier expectations, and JAL added that signs of improved business can be seen especially on international routes, pushing fiscal year 2013 profit forecast 3 billion JPY higher than the last estimate.

Source: Nikkei Shimbun (in Japanese)

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