JAL Group succeeded in increasing revenue and shrinking deficits considerably for FY2021 ending March 31 2022 through its thorough cost reduction efforts and growth of the international cargo business.
Revenue was up 41.9% year on year to 682.7 billion JPY, which consisted of 70.8 billion JPY for international passenger flights (up 153.4%), 235.7 billion JPY for domestic passenger flights (up 35.5%) and 218.3 billion JPY for cargo and mail (up 69.5%).
Operating expenses rose by 6.2% to 940.2 billion JPY mainly because of a 50.3% increase in fuel cost.
JAL Group finally posted net loss of 177.5 billion JPY, improving from net loss of 286.6 billion JPY, and loss of 239.4 billion JPY in EBIT, improving from loss of 398.3 billion JPY in EBIT.
For the full year of FY2022 ending March 31 2023, JAL Group has forecasted 1,390 billion JPY in consolidated revenue, 80 billion JPY in EBIT and 45 billion JPY in net profit, expecting to restore domestic flight passengers to 90% and international flight passengers to 45% compared to FY2019 despite remaining COVID-19 influences, ongoing crisis in Ukraine and rise in fuel price.