Annual Report Japan Airlines Corporation at a Glance Consolidated Financial Highlights Consolidated Operating Highlights Message from the Management Interview with the Group CEO Dream Skyward II: Stepping-stone to become "the world' s No.1 airline group" Review of Operations Corporate Social Responsibility (CSR) Activities Management's Review and Analysis of Financial Position Consolidated Balance Sheets Consolidated Statements of Operations Consolidated Statements of Stockholder' Equity (Note8) Consolidated Statements of Cash Flows Notes to Consolidated Financial Statements Report of Independent Auditors Consolidated Subsidiaries JAL and Its Subsidiaries and Affiliates Directory JAL Group Route Network Board of Directors Investor Information

Consolidated Operating Highlights

Japan Airlines Corporation and Consolidated Subsidiaries
For the Years Ended March 31, 2004 and 2003

Years ended March 31,		2004	2003	Change (%)
Revenue passengers carried (number of passengers):	Domestic	46,496,195	46,520,059	−0.1
	International	11,745,032	14,640,627	−19.8
	Total	58,241,227	61,160,686	−4.8
Revenue passenger-km (1,000 passenger-km):	Domestic	34,687,452	34,820,104	−0.4
	International	59,159,861	69,959,085	−15.4
	Total	93,847,313	104,779,189	−10.4
Revenue passenger-load factor (%; percentage point change):	Domestic	64.0	65.3	−1.3
	International	64.6	69.0	−4.4
	Total	64.3	67.8	−3.5
Revenue ton-km performed (1,000 ton-km):	Domestic	3,054,722	3,069,027	−0.5
	International	10,032,252	11,052,885	−9.2
	Total	13,086,974	14,121,912	−7.3
Revenue weight-load factor (%; percentage point change):	Domestic	47.8	48.8	−1.0
	International	64.8	66.3	−1.5
	Total	59.8	61.5	−1.7

Notes:
1. Ratios and percentages have been rounded to the nearest tenth of a percent.
2. Other figures less than one thousand, except for passengers carried, have been discarded.

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