JAL Interim results 30% decrease in profits Decrease in cargo flights due to US-China trade friction Oct. 31 19:28
The interim results of major airline Japan Airlines until September, the final profit decreased by about 30% compared to the same period of the previous year. This is due to a decrease in the use of freight flights due to trade friction between the United States and China.
In the interim financial results announced by Japan Airlines on the 31st, from April to September, sales increased by 1.3% compared to the same period of the previous year to 759.8 billion yen due to the opening of new routes, etc. Net profit decreased 30.2% to ¥ 51.2 billion.
Reasons for the decline in profits The company reduced the use of freight flights due to the impact of trade friction between the United States and China, and the demand for international flights declined. In addition, the Haneda Airport slot will be expanded next March. This is because the labor costs have increased due to the increased recruitment of crew and other personnel.
On the other hand, with regard to the impact of Typhoon No. 19, sales are expected to decrease by more than 5 billion yen because many flights were suspended mainly in airports in the Tokyo metropolitan area.
Japan Airlines Hideki Kikuyama, managing director, said, “There is a growing sense of uncertainty due to trade disputes between the US and China and worsening relations between Japan and Korea. I want to focus on cost management that can be controlled by the company.”