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Press Release

Corporate

JAL Group Medium-Term Management Plan

Summary

Achieve Sustainable Growth and Development by Adapting to Changes in the Environment

JAL Group has formulated the “JAL Group Medium-Term Management Plan for Fiscal Year 2021-2025” to realize “JAL Vision 2030”, which outlines the future direction of the JAL Group.

 

(1) JAL Vision 2030:  What the JAL Group should look like in 2030.
In the midst of drastic changes in the times and values, we will focus on realizing “Safety and Comfort” and “Sustainability” as the engine for future growth.

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(2) Timeline of Medium-term Management Plan

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This medium-term management plan is a five-year plan for early recovery from the Covid-19 pandemic and the realization of JAL Vision 2030, which aims to achieve EBIT of 170 billion yen in fiscal 2023, recovering the profit level before the Covid-19 pandemic, and EBIT of approximately 185 billion yen in fiscal 2025, the final year of the plan. In addition, we have established management targets for this mid-term period with a view to achieving the JAL Vision and SDGs by 2030 and virtually zero CO2 emissions by 2050.

 

(3) Outline of Management Strategy.

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The business environment surrounding JAL has changed significantly due to the new coronavirus. Under this medium -term management plan, we will adapt to changes in the environment and achieve sustainable growth and development by focusing on “Business Strategy”, ”Financial Strategy”, and ”ESG Strategy” as the pillars of our management strategy.

 

(4) Business Strategy

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We will promote business structure reform in order to build a sustainable business structure that can flexibly respond to market changes and withstand future risks. We will improve and enhance the profitability of the full-service carrier business by optimizing our equipment and network and strengthening our competitiveness, and at the same time, we will work to expand stable earnings in the cargo mail business. In the LCC market, where demand is expected to grow steadily in the future, we will strengthen our cooperation with ZIPAIR, SPRING JAPAN and Jetstar Japan to expand our network and increase our revenue. In addition, we will utilize the JAL Group’s strengths in customer base, operational know-how, technological expertise and other human skills to expand our business in areas such as mileage, regional revitalization, commissioned business and next-generation air
mobility.

<Acquisition of SPRING JAPAN as a Subsidiary>
In order to capture the first inbound demand in China, which is expected to recover in the future, we will develop the China route business using small aircraft together with SPRING Airlines Group, the largest LCC in China, and we plan to make SPRING JAPAN a consolidated subsidiary in June in order to realize high quality and low-cost services by taking advantage of the scale merits of the JAL Group.

 

(5) Financial Strategy

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We will focus on our financial base for the first three years, as the Covid-19 pandemic caused damage to our financial base. We will regain a sound financial structure by FY2023.Then, fromFY2024 onward, we will aggressively invest for sustainable growth, aiming to achieve profit growth and increase corporate value, and pursue both enhanced risk tolerance and capital efficiency.

 

(6) ESG Strategy

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As there is a growing momentum for society as a whole to pursue sustainability and realize true wealth and happiness, we will promote ESG businesses more than ever in our business activities and work toward achieving the SDGs by 2030. We have identified 22 issues and about 180 initiatives in the four areas of Environment, People, Local communities, and governance, and aim to solve issues and realize a sustainable society through business activities. In particular, in our efforts to reduce CO2 emissions, we will promote the replacement of fuel-efficient aircraft, innovations in flight operations, and the use of alternative aviation fuels in order to reduce total CO2 emissions to virtually zero in 2050. We will accelerate our efforts to reduce CO2 emissions toward 2050.

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(7) Management Targets under Medium-Term Management Plan

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The management targets of the Medium-term management plan, which we aim to achieve in fiscal 2025, set targets for each of “Safety and Comfort”, ”Finance”, and “Sustainability” and we will address them as our most important management issues.

With regard to safety and comfort, we aim to reduce the number of aviation accidents and serious incidents to zero, and to create a world class customer experience.

In terms of finances, we will achieve pre-Corona pandemic levels for each indicator in fiscal 2023, which will be a milestone in our financial restricting, and maintain and improve them thereafter. In particular, we aim to achieve a level of EPS that cancels out the impact of the dilution of shares caused by the public offering in November 2020.

Regarding sustainability, in addition to reducing CO2 emissions, we will reduce the use of single-use plastics, practice domestic transportation that contributes to regional revitalization, and promote D&I, including the ratio of female managers.

Through this medium-term management plan, the JAL Group will realize JAL Vision 2030, and create an exciting society where many people and various things can come and go freely and “To become one of the World`s most preferred and valued Airline.”

 

Attached File: ”JAL Group Medium-Term Management Plan for Fiscal years 2021-2025”

 

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