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Feb 26, 2010
JAL Corporation and Consolidated Subsidiaries April - December 2009 & Third Quarter FY2009 Results

Tokyo, February 26, 2010: The JAL Group today announced consolidated results for the first three quarters (April - December inclusive) of fiscal year 2009.

Japan Airlines Corporation, Japan Airlines International Co., Ltd. and JAL Capital Co., Ltd. (collectively, “JAL”), filed on January 19, 2010, an application to the Enterprise Turnaround Initiative Corporation of Japan (ETIC) for support for its restructuring and also filed for petitions with the Tokyo District Court (the Court) for commencement of corporate reorganization proceedings. JAL received the decision from ETIC that it will provide support and on the same day, the Court entered an order commencing the proceedings.

JAL recognizes and is deeply apologetic for the current situation that has caused great inconvenience and concern to our shareholders, financial creditors, customers, suppliers and other related parties. Now, JAL is working fervently with the ETIC under the supervision of the court and court-appointed trustees (Trustees) to draw up an effective corporate revitalization plan to rebuild the airline, while continuing to provide safe and stable flight operations and services to customers. The JAL Group will stand united in our efforts to strive towards achieving a successful reform.

The consolidated operating revenue for this reporting period decreased by 414.4 billion yen compared to that of last year. On the other hand, operating expense was substantially reduced in almost every cost category, achieving a 302.5 billion yen decrease from the same period last year to 1,265.6 billion yen. Operating loss widened by 111.9 billion yen to 120.8 billion yen while ordinary loss increased by 127.7 billion yen to 153.3 billion. The resulting net loss for this reporting period is 177.9 billion yen, 176 billion yen more than previous year.

The consolidated financial statements for this reporting term were prepared on the going concern assumption, where the effects of substantial uncertainties related to the going concern assumption are not reflected in this report. Abiding by Section 83, Part 1 and 3 of the Japanese Corporate Rehabilitation Law, the Group’s assets are now being evaluated by the Trustees based on current market values.Japan Airlines Corporation, Japan Airlines International Co., Ltd. and JAL Capital Co., Ltd. are now operating under the Corporate Reorganization Proceedings and thus, their accounting term, as well as that used by  the JAL Group for its consolidated financial report formally ended on January 19, 2010*.

*The fiscal period (April 1 to March 31) of other individual Group companies remain unchanged.

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JAL Group Consolidated Financial Results for the Period April 1- December 31, 2009

Units: billion yen

Apr 1- Dec 31, 2009

Apr 1- Dec 31, 2008

Year-on-year

Difference

Year-on year  Comparison

Operating revenue

1,144.8

1,559.3

- 414.4

73.4%

International Passenger

336.3

570.2

- 233.8

59.0%

Domestic passenger

455.7

520.9

- 65.2

87.5%

International cargo

74.2

133.5

-59.3

55.6%

Others

278.5

334.5

55.9

83.3%

Operating costs

1,265.6

1,568.1

- 302.5

80.7%

Operating income (loss)

-120.8

-8.8

- 111.9

-

Ordinary income (loss)

-153.3

-25.6

-127.7

-

Net income (loss)

-177.9

-1.9

-176.0

-

* Figures rounded down to the nearest 100 million yen.

* Average exchange rate for the reporting period (April 1 through to December 31, 2009): US$1 = JPY 94.1 / EUR1 = JPY 132.6

Forecast of results for the full year ending March 31, 2010

As conditions required for a realistic estimate of earnings and details of the restructuring plan are undecided at this point in time, JAL will not be announcing a forecast for the full fiscal year of 2009.

APPENDICES

A.JAL Group FY2009 3rd Quarter Consolidated Financial Results

Units: billions of yen    

3rd Quarter FY09

(Oct 1 - Dec 31, 2009)

3rd Quarter FY08

(Oct 1 - Dec 31, 2008)

Previous Year Comparison

Previous Year

% Comparison

Total operating revenue

380.8

485.7

-104.8

78.4%

International passenger

110.8

176.3

-65.5

62.9%

Domestic passenger

144.9

168.4

-23.4

86.1%

International cargo

31.1

38.1

-7.0

81.6%

Other

93.8

102.7

-8.8

91.4%

Total operating expenses

405.9

524.7

-118.8

77.3%

Operating income (loss)

-25.0

-39.0

14.0

-

Ordinary income (loss)

-38.9

-43.6

4.7

-

3rdquarter net income (loss)

-46.7

-38.5

-8.1

-

B.JAL Group FY2009 2nd Quarter Consolidated Financial Results

Units: billions of yen    

2nd Quarter FY09

(Jul 1 - Sep 30, 2009)

2nd Quarter FY08

(Jul 1 - Sep 30, 2008)

Previous Year Comparison

Previous Year

% Comparison

Total operating revenue

429.0

583.2

-154.2

73.6%

International passenger

128.1

213.3

-85.2

60%

Domestic passenger

179.5

198.8

-19.2

90.3%

International cargo

23.1

49.9

-26.8

46.3%

Other

 

121.0

-22.8

81.1%

Total operating expenses

438.7

556.8

-118.1

78.8%

Operating income (loss)

-9.6

26.4

-36.0

-

Ordinary income (loss)

-20.4

17.3

-37.7

-

2nd quarter net income (loss)

-32.1

40.1

-72.2

-

C.JAL Group FY2009 1st Quarter Consolidated Financial Results

Units: billions of yen    

1st Quarter FY09

(Apr 1 - Jun 30, 2009)

1st Quarter FY08

(Apr 1 - Jun 30, 2009)

Previous Year Comparison

Previous Year

% Comparison

Total operating revenue

334.8

490.3

- 155.4

68.3%

International passenger

97.3

180.4

- 83.1

53.9%

Domestic passenger

131.1

153.7

- 22.5

85.3%

International cargo

19.9

45.4

- 25.5

43.8%

Other

86.4

110.7

- 24.2

78.1%

Total operating expenses

421.0

486.4

- 65.4

86.6%

Operating income (loss)

- 86.1

3.9

- 90.0

-

Ordinary income (loss)

- 93.9

0.7

- 94.7

-

1st quarter net income(loss)

- 99.0

- 3.4

- 95.6

-

D.JAL Group Consolidated Traffic Statistics

 

Third Quarter 2009

Apr 1 - Dec 31, 2009

Third Quarter 2008

Apr 1 - Dec 31, 2008

Change by % or points

INTERNATIONAL

 

 

 

Passenger number

8,159,881

8,891,313

91.8%

Revenue passenger kms (000)

36,521,975

39,970,292

91.4%

Available seat kms (000)

52,716,274

60,745,669

86.8%

Revenue seat load factor

69.3%

65.8%

3.5

Revenue cargo ton kms (000)

2,267,463

2,901,189

78.2%

Mail ton kilometers (000)

146,071

150,115

97.3%

Revenue ton kms (000)

5,800,982

6,754,908

85.9%

Available ton kms (000)

8,735,374

10,834,909

80.6%

Revenue weight load factor

66.4%

62.3%

4.1

DOMESTIC

 

 

 

Passenger number

28,415,288

31,940,692

89.0%

Revenue passenger kms (000)

21,626,956

24,254,824

89.2%

Available seat kms (000)

36,190,854

37,495,690

96.5%

Revenue seat load factor

59.8%

64.7%

-4.9

Revenue cargo ton kms (000)

328,741

358,317

91.7%

Mail ton kilometers (000)

17,675

22,012

80.3%

Revenue ton kms (000)

1,966,757

2,198,078

89.5%

Available ton kms (000)

4,309,828

4,471,163

96.4%

Revenue weight load factor

45.6%

49.2%

-3.6

TOTAL

 

 

 

Passenger number

36,575,169

40,832,005

89.6%

Revenue passenger kms (000)

58,148,931

64,225,116

90.5%

Available seat kms (000)

88,907,128

98,241,359

90.5%

Revenue seat load factor

65.4%

65.4%

0.0

Revenue cargo ton kms (000)

2,596,204

3,259,506

79.7%

Mail ton kilometers (000)

163,746

172,127

95.1%

Revenue ton kms (000)

7,767,739

8,952,986

86.8%

Available ton kms (000)

13,045,202

15,306,072

85.2%

Revenue weight load factor

59.5%

58.5%

1.0

 

END

 20100226 - FY09Q3 Results_FINAL.pdf

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