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June 29, 2017

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JAL's quarterly net profit drops 19.4 percent to US$145 million

TOKYO -- Japan Airlines (JAL) said Tuesday its net profit for the April-June quarter fell 19.4 percent to US$145 million, as a weak yen and soaring fuel costs dug into its results.

The carrier said net profit fell to 14.8 billion yen (US$145 million), while operating profit also dropped 15.6 percent to 18.6 billion yen.

Sales ticked up 4.4 percent to 307.1 billion yen.

A brief company statement did not outline reasons for the weaker profit figures.

But the airline has previously warned that a sharp drop in the yen has driven up the cost of fuel, often a carrier's single-biggest expense.

JAL maintained its annual forecast for the fiscal year through March, with the firm expecting a net profit of 115 billion yen, down 30.8 percent from a year earlier, and an operating profit of 140 billion yen, down 16.1 percent.

Annual sales were expected to come in at 1.35 trillion yen, up 3.1 percent.

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