Japan Airlines Co., Ltd. · TSE:9201
Japan Airlines — Q1 FY2022 Earnings Presentation
26 slides from Japan Airlines's earnings presentation, Aug 1, 2022
Slide 1: Financial Results 1st Quarter Mar/2023 (FY2022)
JAPAN AIRLINES Co., Ltd. Financial Results 1st Quarter Mar/2023（FY2022） August 1, 2022 AIRBUS A350-900 #16 ©Japan Airlines, ALL rights reserved.
Slide 2: Agenda
SKYTRAX SKYTRAX SKYTRAX 2021 Covid-19 Safety World Airline Star SKYTRAX Rating Rating World's Best Economy Class 5-Star 5-Star Best Economy Class Airline Seat COVID-19 Excellence Award ※ APEX APEX 1. PERFORMANCE OVERVIEW FOR FY22Q1 WORLD CLASS Health Safety Powered by SimpliFlying Audit Diamond 2. R
Slide 3: Performance Overview for FY22Q1
PERFORMANCE OVERVIEW FOR FY22Q1 ✔ Both Revenue and EBIT have improved. Demand has steadily recovered as society shifts toward a balance of social economic activities and preventing the infection. ✔ Although interim dividends will not be paid as it is necessary to further monitor our performance, we
Slide 4: FY22Q1 Performance by Business Domain
FY22Q1 Performance by Business Domain Full Service Carrier LCC LCC Significant increase in revenue Losses continue but sign of recovery by appropriate resource allocation in leisure and VFR(※) demand is evident FY22Q1 Revenue FY22Q1 EBIT FY22Q1 Revenue 3.3 JPY Bn ▼3.5 JPY Bn 153.1 JPY Bn Revenues of
Slide 5: Performance Overview for FY22Q1
1. PERFORMANCE OVERVIEW FOR FY22Q1 2. RECENT OUTLOOK 3. DETAILS OF FINANCIAL RESULTS FOR FY22Q1 4. REFERENCES ©Japan Airlines, ALL rights reserved. 5
Slide 6: Overview of 1st Quarter FY22 ending March 2023
Overview of 1st Quarter FY22 ending March 2023 ✔ EBITDA recorded positive. EBIT is expected to turn into black in July. ✔ No major concerns about our resources (aircraft/personnel). Aim to achieve EBIT of 80 billion yen capturing the high demand in summer. ✔ Ability to create cash flow is steadily re
Slide 7: Recent Outlook: Int'l & Domestic Passenger Operations
Recent Outlook Int’l & Domestic Passenger Operations (Full Service Carrier) ✔ For Int’l, demand to/from Japan is recovering gradually; We will also capture the strong transit demand between Asia and North America. ✔ For Domestic, demand is recovering gradually as restrictions are eased ✔ We expect s
Slide 8: Recent Outlook: Cargo & LCC
Recent Outlook Cargo & LCC ✔ Cargo business recorded significant increase in revenue, capturing strong Int’l cargo demand utilizing both own aircraft and other company’s freighters. This trend is expected to continue for this year ✔ For LCC business, both int’l and domestic demand is recovering stead
Slide 9: Recent Outlook
1. PERFORMANCE OVERVIEW FOR FY22Q1 2. RECENT OUTLOOK 3. DETAILS OF FINANCIAL RESULTS FOR FY22Q1 4. REFERENCES ©Japan Airlines, ALL rights reserved. 9
Slide 10: Consolidated Financial Results
DETAILS OF FINANCIAL RESULTS FOR FY22Q1 Consolidated Financial Results FY19Q1 FY21Q1 （JPY：Bn ） FY19Q1 FY21Q1 FY22Q1 Diff. y/y Diff. y/y Revenue 348.8 133.0 268.8 ▼79.9 ▼22.9% +135.8 +102.1% Full Service Carrier 284.3 97.7 218.4 ▼65.8 ▼23.2% ＋120.7 ＋123.5% International PAX (Full Service Carrier) 130.6
Slide 11: Changes in EBIT (Revenues/Expenses)
DETAILS OF FINANCIAL RESULTS FOR FY22Q1 Changes in EBIT (Revenues／Expenses) ASK y/y ： +56.4% + stands for profit increase（ revenue increase, cost decrease ) RPK y/y ： +218.8% ▼ stands for profit decrease ( revenue decrease, cost increase ) ＋55.1 Bn （JPY Bn） Mileage, Lifestyle and Full Service Infrastr
Slide 12: Changes in EBIT (Market and other impact)
DETAILS OF FINANCIAL RESULTS FOR FY22Q1 Changes in EBIT (Market and other impact) （JPY Bn） + stands for profit increase（revenue increase, cost decrease) ▼stands for profit decrease (revenue decrease, cost increase)) Impact from Currency Market ▼9.1 Bn ＋55.1 Bn Revenue +7.4 Bn Cost ▼16.5 Bn (Excl. Mark
Slide 13: Int'l & Domestic Passenger Operations (Full Service Carrier)
DETAILS OF FINANCIAL RESULTS FOR FY22Q1 Int’l & Domestic Passenger Operations (Full Service Carrier) International Passenger FY19Q1 FY21Q1 FY22Q1 Vs. FY19Q1 Vs. FY21Q1 Passenger Revenue（JPY Bn） 130.6 11.2 62.4 ▼52.2% ＋457.0% Passengers（’000） 2,429 149 728 ▼70.0% ＋387.5% RPK（MN passenger km） 12,016 1
Slide 14: Cargo
DETAILS OF FINANCIAL RESULTS FOR FY22Q1 Cargo International Cargo FY19Q1 FY21Q1 FY22Q1 Vs. FY19Q1 Vs. FY21Q1 Cargo Revenue (JPY Bn) 15.1 38.9 56.9 ＋277.1% ＋46.5% Available Ton Km (MN ton km) 1,097 787 895 ▼18.4% ＋13.7% Revenue Ton Km (MN ton km) 589 735 729 ＋23.7% ▼0.7% Carried Cargo Weight (Thousan
Slide 15: LCC
DETAILS OF FINANCIAL RESULTS FOR FY22Q1 LCC Spring ZIPAIR LCC Japan (1) FY21Q1 FY22Q1 FY21Q1比 FY22Q1 Passenger Revenue (JPY Bn) 0.0 2.0 - 1.2 Passengers (‘000) 1 53 - 42 RPK（MN passenger km） 4 269 - 39 ASK（MN seat km） 270 983 +263.0% 101 L/F (%) 1.7% 27.4% +25.7pt 38.5% (2) Revenue per Passenger (JP
Slide 16: Mileage, Lifestyle and Infrastructure
DETAILS OF FINANCIAL RESULTS FOR FY22Q1 Mileage, Lifestyle and Infrastructure JAL Mileage and Lifestyle Concept Recent Updates ～ Make Everyday life and life even better with miles ■ Expanding alliances with other ～ ~ make everyday life and all life stages industries even better with miles ~ • Launch
Slide 17: Expenses
DETAILS OF FINANCIAL RESULTS FOR FY22Q1 Expenses ✔ Actual fixed cost for Q1FY22 was 120.7 billion yen, in difficult market conditions ✔ Implementation of appropriate cost control measures to maintain 500 billion yen for FY22 Major Operating Expense Items FY19Q1 FY21Q1 （Bn Yen） FY19Q1 FY21Q1 FY22Q1 Diff.
Slide 18: Fuel Costs
DETAILS OF FINANCIAL RESULTS FOR FY22Q1 Fuel Costs Changes in fuel costs FUEL/FX Markets (JPY Bn) Market FY21Q1 FY22Q1 Vs FY21Q1 +35.2 69.8 FX Hedging Singapore Kerosene Volume 68.4 136.9 ＋100.1% increase +10.5 and others (USD/bbl) +13.8 ▼16.4 Dubai Crude (USD/bbl) 64.5 107.3 ＋66.4% 26.5 ＋43.2 Bn FX
Slide 19: Balance Sheet and Cash Flow
DETAILS OF FINANCIAL RESULTS FOR FY22Q1 Balance Sheet and Cash Flow ✔ Equity ratio is 39.2% for credit evaluation basis, Net D/E ratio is x0.2, keeping a BS healthy level CF ✔ Cash flow from operating activities is 78.7 billion yen for Q1FY22, Free cash flow is 46.3 billion yen of inflow Consolidated B
Slide 20: References
1. PERFORMANCE OVERVIEW FOR FY22Q1 2. RECENT OUTLOOK 3. DETAILS OF FINANCIAL RESULTS FOR FY22Q1 4. REFERENCES ©Japan Airlines, ALL rights reserved. 20
Slide 21: Mar/2023 Full-Year Performance Forecast
[Reference] Mar/2023 Full-Year Performance Forecast Consolidated Full-Year Forecast ※ Full Service Carrier LCC (※) FY2021 FY2022 （JPY BN） Significant increase Improve EBIT by Result Forecast Diff. (%) in sales capturing recovering demand in Revenue 682.7 1,390.0 +707.2 +103.6% recovering demand touris
Slide 22: Operation Performance by Geographic Segment (Full Service Carrier)
[Reference] Operation Performance by Geographic Segment (Full Service Carrier) Passenger Revenue Revenue Passengers Carried Component Ratio (‘000) FY22Q1 Vs. FY19Q1 Vs. FY21Q1 (%) Vs. FY19Q1 Vs. FY21Q1 FY22Q1 America 245 ▼38.6% +296.6% America 41% ▼32.0% +373.4% Europe 60 ▼69.0% +377.0% Europe 18% ▼
Slide 23: Fleet Information
[Reference] Fleet Information End of FY21 (March 31, 2022) End of FY22Q1 (June 30, 2022) Owned Leased Total 1 Total 2 Owned Leased Total 1 Total 2 Diff. retired aircraft 退役済み機材除く retired aircraft Total2 of Jun/22 退役済み機材除く excluded excluded - Mar/22 Airbus A350-900 11 4 15 15 12 4 16 16 +1 Boeing 777-
Slide 24: Fly into tomorrow.
Fly into tomorrow. Finance & Investor Relations Japan Airlines ©Japan Airlines, ALL rights reserved. 24
Slide 25: 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
Slide 26: Intentionally Left Blank
INTENTIONALLY LEFT BLANK ©Japan Airlines, ALL rights reserved.