Press Release

Tokyo, JAPAN - The JAL Group today announced its consolidated financial results for the fiscal year ending March 2026 (April 1, 2025 - March 31, 2026).

1. JAL Group Consolidated Financial Results
For the fiscal year ending March 2026, revenue reached a record high of 2,012.5 billion yen (up 9.1% year-on-year) since relisting. Operating expenses increased by 8.3% year-on-year to 1,834.0 billion yen, primarily due to higher variable costs linked to revenue growth, inflationary pressures, and increased investment in human capital. As a result, EBIT was 218.0 billion yen (up 26.4% year-on-year), and net profit was 137.6 billion yen (up 28.6% year-on-year).

 2. Performance by Business Segment
Revenue and profit increased year-on-year in the Full-service Carrier, Mileage/Finance and Commerce, and Other segment.

 Full Service Carrier Business
Strong international passenger demand and flexible revenue management contributed to capturing domestic passengers, while expansion of the freighter network supported growth in cargo demand, resulting in revenue of 1,587.4 billion yen (up 9.3% year-on-year) and EBIT of 145.0 billion yen (up 30.5% year-on-year).

1. ■ International Passenger
   Strong inbound demand and a moderate recovery in outbound business demand from Japan contributed to solid performance in both passenger numbers and yields.
   As a result, passenger numbers increased by 5.6% year-on-year, and passenger revenue grew by 9.1% year-on-year.

   

    

   ■ Domestic Passenger
   Capturing passengers through demand stimulation led to a high load factor. Against this backdrop, revenue management was effective, resulting in steady growth in both passenger numbers and yields.
   As a result, passenger numbers increased by 5.8% year-on-year, and passenger revenue grew by 6.6% year-on-year.

   

    

   ■ Cargo and Mail
   International cargo successfully captured the rapidly growing demand between Asia and North America, resulting in a 21.3% year-on-year increase in revenue.
   Domestic cargo revenue increased by 7.3% year-on-year, driven by efforts to capture new demand.

   

    LCC Business
   Reflecting strong growth in the LCC market, revenue increased by 10.4% year-on-year to 114.9 billion yen, while EBIT declined by 17.1% year-on-year to 9.6 billion yen.

2. ■ ZIPAIR
   Despite a temporary slowdown in inbound demand, revenue increased by 8.4% year-on-year by flexibly responding to market demand.
   

   

    

   ■ SPRING JAPAN
   Despite unstable market conditions, strong demand from major cities such as Beijing and Shanghai (Pudong) was steadily captured, achieving a year-on-year revenue increase of 19.2%.
   

   

    

   Mileage/Finance and Commerce Business
   An increase in passenger numbers, alongside a rise in mileage points issued associated with JAL Card payment volume, led to revenue growth of 10.9% year-on-year to 222.2 billion yen and EBIT growth of 19.5% year-on-year to 45.5 billion yen, maintaining stable profit growth.
   
   Other
   In the ground handling business, the contract unit price improved, resulting in revenue growth of 2.7% year-on-year to 259.0 billion yen and EBIT growth of 54.7% year-on-year to 19.1 billion yen.

   

    3. JAL Group Consolidated Financial Position and Cash Flow

    4. Dividend
   For the fiscal year ended March 31, 2026, although the earnings exceeded the consolidated financial results forecast for the full year announced on March 2, 2026, the year-end dividend remains unchanged at 50 yen per share, resulting in an annual dividend of 96 yen per share, taking into account the ongoing situation in the Middle East .
   For the fiscal year ending March 31, 2027, the dividend forecast remains at 96 yen per share, including an interim dividend of 48 yen per share, based on the above-mentioned maintained dividend forecast.
   Efforts will continue to be made to provide stable shareholder returns.
   
   5. Future Outlook
   The global situation has become increasingly uncertain, including a rapid rise in crude oil prices caused by the tense situation in the Middle East. Constant vigilance regarding political and economic developments remains essential in this business environment.
   Despite these severe circumstances, stabilization of the performance of both aviation and non-aviation businesses will be ensured. The consolidated financial forecast for the fiscal year ending in March, 2027 remains unchanged from the "JAL Group Management Vision 2035," with revenue of 2,095.0 billion yen, EBIT of 180.0 billion yen, and net profit of 110.0 billion yen.
   

3. 
   6. Recent Initiatives

4. 

   The new growth strategy, "JAL Group Management Vision 2035," was announced. This strategy aims to transform the business portfolio into one resilient to external environmental changes, capable of creating social value and achieving steady growth. The targets are an EBIT of 300.0 billion yen by fiscal year 2030 and over 350.0 billion yen by fiscal year 2035.

    A new corporate brand slogan, "Soaring Together," has been introduced to reflect the vision for the future society. Established as a partner that supports each customer's life and society across various contexts, the company will deliver meaningful encounters and experiences that genuinely resonate with customers' hearts through its products and services.

5. 
   Full Service Carrier Business
6. ➢ Under the concept "New Angles, New Stories - Reconnecting with Japan," efforts are underway to sequentially renew domestic services with the aim of enhancing the entire travel experience.
   On April 15, 2026, the JAL App underwent a complete redesign, focusing on intuitive usability and a simple, universally understandable interface. The app now delivers optimal information tailored to customers' situations throughout their journey--from preparation to arrival. In First Class, dining and beverage offerings have been renewed to showcase Japan's diverse characteristics and cultural richness.
   Additionally, during fiscal year 2026, the inflight magazine and Haneda Airport lounges will be refurbished. With the introduction of the new Boeing 737-8 aircraft scheduled for fiscal year 2027, First Class service will be progressively expanded across the domestic route network.
   JAL invites customers to experience the newly enhanced domestic services.
   

   

    ➢ Starting March 2026, the inflight meal service on international flights was renewed across all classes. Two internationally active chefs have been invited for First and Business Classes, providing new meals that harmonize Japan's delicate sensibilities with global trends.

   

    ➢ From April 1, 2026, partnership with Cargolux Airlines was strengthened, commencing codeshare operations on the Tokyo (Narita)-Luxembourg route. Growth will continue through cargo aircraft network expansion, including increased codeshare flights with Kalitta Air on the Tokyo (Narita)-Chicago route.

    

    ➢ In the SKYTRAX World Airline Star Rating, the highest rating of 5 stars has been awarded for the ninth consecutive year.

   

    

   ➢ Participated in an IATA-led program and conducted a proof-of-concept for a next-generation boarding experience utilizing digital identity. Using information pre-linked to a smartphone's mobile wallet, facial recognition was employed for flight boarding and transfers. This marks the world's first proof-of-concept for transfer using facial recognition.

   

7.  LCC Business
8. ➢ ZIPAIR operated four round-trip charter passenger flights, the first-ever direct service between Tokyo (Narita) and Orlando in February and March 2026, capturing tourism demand. As the first Asian airline to introduce high-speed internet "Starlink," seven of eight aircraft are currently equipped, with plans to equip the entire fleet by May 2026.
9. ➢ SPRING JAPAN began new routes on April 23, 2026, between Tokyo (Narita) and Hakodate, and between Nagoya (Chubu) and Sapporo (New Chitose).
11. 
    Mileage/Finance and Commerce Business and Other
12. ➢ A new service, the "Tralipi Program," enabling customers to accumulate JAL miles daily through automated foreign exchange (FX) trading, was launched on February 2, 2026, in partnership with MoneySquare. Partnerships will continue to expand mainly in the financial and lifestyle sectors, aiming to grow mileage and lifestyle-related businesses.

13. ➢ In February 2026, Japan Airlines established Japan Airlines Ventures, Inc., a wholly owned corporate venture capital (CVC) firm based in Silicon Valley. Japan Airlines Ventures is dedicated to discovering untapped technologies and innovative business models that have yet to be reached, aiming to lead transformative change for the future.

    

     Regional Revitalization

14. ➢ Established in April 2026, KANTSUNA Co-Creation Co., Ltd. specializes in the business of fostering relationships and connections. By creating connections through mobility,
    it aims to expand individuals' sense of belonging and increase diverse options for a fulfilling life, thereby enhancing well-being.
    

    

     

    ➢ Collaboration with JR East and JR West aims to provide seamless travel experiences through mutual use of rail and air transport. By creating connections through mobility, including supporting dual residence, this partnership seeks to create "Related Populations" and permanent residents in regional areas.