TOKYO (dpa-AFX) - JAL Group (JAPSY.OB) reported that its profit attributable to owners of the parent for the first quarter was 14.7 billion yen, down 54.9% year on year.
Consolidated operating revenue for the quarter decreased by 4.8% year-on-year to 297.2 billion yen.
Operating income decreased by 39.1% year on year to 22.0 billion yen and ordinary income decreased by 49.8% to 19.7 billion yen.
In overseas economies, a sense of uncertainty pervaded the British and European economies stemming from the LEAVE won a majority in the United Kingdom European Union membership referendum. Weakness was also observed in new emerging markets in Asia and resource-rich countries led by China's economic slowdown. Due to effects of a series of earthquakes that struck Kumamoto Prefecture in the Kyushu region in April (the 2016 Kumamoto Earthquakes), tourism demand in Kyushu declined. Crude oil prices, which affect our fuel purchasing costs, international passenger revenue and international cargo revenue, have been lower than the year before, and the JPY/USD foreign exchange rate showed the Japanese yen getting stronger.
Looking ahead for fiscal year ending March 31, 2017, the company still expects Profit attributable to owners of parent of 192.0 billion yen, Ordinary Income of 193.0 billion, Operating Income of 201 billion yen, and Operating Revenues of 1.343 trillion yen.
Copyright RTT News/dpa-AFX