Japan Airlines reported a turnaround profit for the nine-months to December 31, 2022. The airlines reported that the increase in revenue was driven by an increased passenger demand.
For the nine-month period, the Japan Airlines reported a profit of 16.3 billion yen, compared with a loss of 128.3 billion yen posted for the same period of previous year. EBIT was at 34.7 billion yen as against a loss of183.3 billion yen of previous year.
Operating expenses rose to 990.1 billion yen from last year's 687.9 billion yen.
The Group generated revenue of 1.005 trillion yen, compared with 498.4 billion yen of last year period. Looking ahead, for FY22-23, the company has revised its forecast looking at the recent trends in air travel and COVID-19 pandemic restrictions.
The airline has revised the profit outlook to 25 billion yen, a decrease of 20 billion yen from the previous forecast. The airline has also decreased the full-year EBIT guidance to 50 billion yen, a reduction of 30 billion yen from the previous guidance.
The Group has also slashed revenue guidance to 1 trillion yen-358.0 billion yen, a decrease of 46 billion yen from the previous forecast.