Press Release
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
|
Apr 1- Dec 31, 2009 |
Apr 1- Dec 31, 2008 |
Year-on-yearDifference |
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 |
|
429.0 |
583.2 |
-154.2 |
73.6% |
|
|
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 |
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