TOKYO: Japan Airlines said Friday its six-month net profit soared nearly 29 percent while the carrier boosted its full-year forecasts thanks to a surge in tourism and a steep slide in fuel costs.
The airline’s net profit came in at ¥103.4 billion, while it said it expected its full-year profit to be ¥172 billion, up about 20 percent from its earlier projection. Half-year revenue rose 0.6 percent to ¥687.9 billion in the six months to September, JAL said.
Visitor arrivals in Japan have surged as a weak yen puts more purchasing power in the hands of foreign tourists. “The number of foreign visitors to Japan, which affects our company’s passenger revenue, increased significantly from the previous year,” the airline said.
“Oil prices, which greatly affect our fuel purchasing costs, have been low compared to the year before,” it added. For the full fiscal year to March 2016, the company upgraded its sales forecast to ¥1.347 trillion from its earlier estimate of ¥1.328 trillion.
