TOKYO (dpa-AFX) - JAL Group (JAPSY.OB) reported that its net income attributable to owners of the parent for the first six months of the fiscal year of 2016 was 71.4 billion yen, down 30.9% year on year.
Operating income decreased by 23.0% year on year to 92.4 billion yen and ordinary income decreased by 26.8% to 89.8 billion yen.
Consolidated operating revenue decreased by 5.2% year-on-year to 651.9 billion yen.
JAL decided to repurchase up to 15 million of its shares for maximum price of 30 billion yen through March 31, 2017.
The full-year consolidated revenue is expected to decrease by 63.0 billion yen over previous forecast, primarily due to weaker demand in international passenger operations and less revenue per passenger both in international and domestic passenger operations than expected.
The full-year consolidated operating income is seen to decrease by 31.0 billion yen from our previous forecast.
As it project a decrease of 30.0 billion yen in full-year consolidated ordinary income and a decrease of 31.0 billion yen in full-year net income attributable to owners of the parent, the company cut its its earnings forecast for the fiscal year ending March 31, 2017.
Looking ahead for fiscal year ending March 31, 2017, the company now expects net income attributable to owners of parent to be 161 billion yen, ordinary income of 163.0 billion, operating Income of 170billion yen, and operating revenues of 1.28 trillion yen.
Previously, the company expected net income 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 for the fiscal year.
Copyright RTT News/dpa-AFX