Thursday, June 19, 2014

Peach reports first full-year profit for FY2013.

On June 19th, Peach Aviation (MM/APJ) reported they have recorded a full-year net profit of 1.05 billion JPY for fiscal year 2013, which ended on March 31st. The Osaka/Kansai (KIX/RJBB)-based LCC had targeted a full-year profit for their third year and has effectively accomplished it, becoming the first Japanese LCC to achieve the milestone. FY2012 was a 1.29 billion JPY loss.
Airbus A320-214 JA805P basks in the sun at their Kansai hub. (Photo: Peach)

Revenue reached 30.6 billion JPY, operating revenue was 2.7 billion JPY, and current earnings showed 1.7 billion JPY. System-wide average load factor was 83.7% and fare-paying passengers numbered approximately 3 million. Their 13th Airbus A320 was delivered earlier this month, and plans are on track to launch their second hub at Okinawa/Naha (OKA/ROAH) on July 1st (Peach announces Naha – Fukuoka.). CEO Shinichi Inoue believes peak and off-peak load factors showing minimal fluctuation as one of the important contributing factors.

FY2014 is expected to suffer 3 billion JPY of lost revenue from the massive flight disruption (Peach outlines Summer 2014 mass cancellations.) due to the lack of pilots, however, Peach estimates network expansion will bring a 10% increase in revenue. One more A320 will be delivered this year in November for a total of 14, and three will be added each year in the following two years for a total of 20 by the end of 2016.

Reference: Aviation Wire, June 19th. (in Japanese)

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