Japan Airlines Co., Ltd. · TSE:9201

Japan Airlines — FY2021 Earnings Presentation

20 slides from Japan Airlines's earnings presentation, May 6, 2022

  1. Slide 1: Financial Results MAR/2022 (FY2021)

    JAPAN AIRLINES Co., Ltd. Financial Results MAR/2022（FY2021） Tokyo / Haneda Airport Sapporo / New Chitose Airport Osaka / Itami Airport Okinawa / Naha Airport Fukuoka Airport "JAL SMARTAIRPORT" Deployment Completed MAY 6, 2022 ©Japan Airlines, ALL rights reserved.

  2. Slide 2: Agenda

    APEX APEX SKYTRAX SKYTRAX SKYTRAX 2021 WORLD CLASS Health Safety Powered Covid-19 Safety Rating SKYTRAX World Airline Star Rating by SimpliFlying Audit 5-Star 5-Star World's Best Economy Class Diamond COVID-19 Excellence Award Best Economy Class Airline Seat 1. Performance Overview For Mar/22 The 9t

  3. Slide 3: Performance Overview for Mar/22

    PERFORMANCE OVERVIEW FOR MAR/22  Steady recovery of both Revenue and EBIT while the effects of the spread of COVID-19 infection continues Revenue EBIT (1)/ Profit or Loss (2) （JPY Bn) （JPY Bn) EBIT Net Profit/Loss ▼703.2 Bn 1,600 200 1,385.9 (▼50.7%) 88.8 48.0 1,200 0 +201.4 Bn EBIT Margin(3) 800 (

  4. Slide 4: Forecast For Mar/23

    1. Performance Overview For Mar/22 2. Forecast For Mar/23 3. Details of Financial Results for Mar/22 4. References ©Japan Airlines, ALL rights reserved. 4

  5. Slide 5: Mar/2023 Full-Year Performance Forecast

    Mar/2023 Full-Year Performance Forecast  The full-year consolidated earnings forecast is Revenue 1,390 billion yen, EBIT 80 billion yen and Net Profit 45 billion yen, based on steady recovery of passenger demand, also aiming for resumption of dividends by the end of this fiscal year  Aiming for th

  6. Slide 6: Premises of Performance Forecast for Mar/2023

    Premises of Performance Forecast for Mar/2023  International passenger demand gradually recovers as easing of quarantine restrictions in each country progresses  A full-scale recovery of domestic passenger demand is expected, to reach pre-pandemic levels from the second quarter  The impact on pro

  7. Slide 7: Details of Full-Year Performance Forecast For Mar/23

    Details of Full-Year Performance Forecast For Mar/23 Changes in EBIT (Revenues / Expenses)  Int’l and domestic passenger revenues increase significantly as demand recovers, and cargo remains strong, maintaining revenues as previous year.  Actual Fixed Costs are kept below 500 billion yen, and cost

  8. Slide 8: Details of Financial Results for Mar/22

    1. Performance Overview For Mar/22 2. Forecast for Mar/23 3. Details of Financial Results for Mar/22 4. References ©Japan Airlines, ALL rights reserved. 8

  9. Slide 9: Details of Financial Results for Mar/22

    Details of Financial Results for Mar/22 Consolidated Financial Results 12 month (April to March) 4th Quarter （JPY Bn) FY19 FY20 vs FY20 Q4 FY19 FY20 FY21 FY21 Q4 Diff. y/y Diff. y/y Diff. y/y Revenue 1,385.9 481.2 682.7 ▼ 703.2 ▼50.7% +201.4 +41.9% 184.2 +59.5 +47.8% Int'l Passenger 486.2 27.9 70.8

  10. Slide 10: Changes in EBIT (Revenue/Expenses)

    Details of Financial Results for Mar/22 Changes in EBIT (Revenue/Expenses) ASK y/y: +55.4% + indicates profit increase (revenue increase, cost decrease) RPK y/y: +59.3% ▼indicates profit decrease (revenue decrease, cost increase) (JPY Bn) ＋158.8JPY Bn 22.0 billion yen of Personnel cost reduction thr

  11. Slide 11: International Passenger Operations (Full Service)

    Details of Financial Results for Mar/22 International Passenger Operations (Full Service)  Progress in the easing of the quarantine process in each country resulted in the gradual recovery of demand between Asia and North America and to and from Japan (vs Pre-Pandemic(1) ) Int'l PAX Int'l Capacity

  12. Slide 12: Domestic Passenger Operations (Full Service)

    Details of Financial Results for Mar/22 Domestic Passenger Operations (Full Service)  Demand is steadily recovering from the end of the fiscal year due to the decrease in number of infected people and the progress of vaccination, while a rise and fall of demand was apparent due to the declaration o

  13. Slide 13: Cargo and Mail

    Details of Financial Results for Mar/22 Cargo and Mail  International cargo showed significant increase in sales by maximum use of our passenger aircraft and other company's freighters to meet the strong demand  Domestic cargo secures stable income due to strong demand for e-commerce, etc., despit

  14. Slide 14: Major Operating Expense Items

    Details of Financial Results for Mar/22 Major Operating Expense Items  Actual fixed costs were reduced by ▼34.3 billion yen from the initial estimate of 500 billion yen to 465.7 billion yen  Flexible supply adjustments in response to declining demand enabled the control of the increase in variable

  15. Slide 15: Summary of Consolidated Statement of Financial Position and Cash Flow

    Details of Financial Results for Mar/22 Summary of Consolidated Statement of Financial Position and Cash Flow  Equity ratio is 41.1% for credit evaluation basis by Hybrid Finance Net D/E Ratio is 0.3x, keeping a healthy level Consolidated Balance Sheet End of FY20 End of FY21 Diff. （JPY Bn) Total A

  16. Slide 16: References

    1. Performance Overview For Mar/22 2. Forecast For Mar/23 3. Details of Financial Results for Mar/22 4. References ©Japan Airlines, ALL rights reserved. 16

  17. Slide 17: Operation Performance by Geographic Segment (Full Service)

    [Reference] (1) Operation Performance by Geographic Segment (Full Service) Passenger Revenue Revenue Passenger Carried 12 Months 4th Quarter 12 Months 4th Quarter (%) (‘000) FY21 vs FY19 vs FY20 FY21Q4 vs FY20Q4 FY21 vs FY19 vs FY20 FY21Q4 vs FY20Q4 Americas 46% ▼77.0% +234.0% 42% +141.5% Americas 3

  18. Slide 18: Fleet List

    [Reference] Fleet List End of Mar 2021 End of Mar 2022 Diff. Owned Leased Total 1 Total 2 Owned Leased Total 1 Total 2 Total2 of end Retired Retired of Mar 2022 AircraftExcluded AircraftExcluded and 2021 Airbus A350-900 4 4 8 8 11 4 15 15 +7 Boeing 777-300ER 13 0 (1) 13 13 13 0 (1) 13 13 - Boeing 77

  19. Slide 19: Fly into tomorrow.

    Fly into tomorrow. Finance & Investor Relations Japan Airlines ©Japan Airlines, ALL rights reserved. 19

  20. Slide 20: Disclaimer

    Disclaimer This content contains descriptions of the future expectations, outlooks, objectives and plans etc. Of Japan Airlines Co., Ltd. (hereafter "the company") and related Group companies (hereafter "the Group"). These are based on information available at the time when these materials were crea

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