Japan Airlines (JAL) has continued its recovery from bankruptcy with a sharp upturn in profits for the first quarter of the 2012-13 financial year.
The airline generated net profits of JPY26.9 billion (US$344m) for the three months ending 30 June 2012 – 111.2% higher than the JPY12.7bn generated in the same period last year.
Revenues climbed 12.5% to JPY254.9bn, driven by a 21.6% increase in international passenger revenues. Domestic passenger revenues also climbed.
JAL said the improved profit was achieved following “efforts to reduce cost by improving productivity, and… by flexibly and adequately matching capacity with demand”.
The result follows an impressive JPY186.6bn profit recorded in full-year 2011-12 – a result achieved just two years after the airline filed for bankruptcy protection, and in the aftermath of the 2011 earthquake and tsunami.
