Annual Report Profile JAL Group Overview Consolidated Financial Highlights Consolidated Operating Highlights Message from the Group CEO Interview with the Group CEO Spreading New Wings of Trust Review of Operations Fundamental Policies and Actions Regarding Corporate Governance 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 Statements of Operations

Japan Airlines Corporation and Consolidated Subsidiaries

			Millions of yen	Thousands of U.S. dollars (Note 2)
Years ended March 31,	2005	2004	2003	2005
Operating revenues:
Passenger:
Domestic	¥ 674,732	¥ 668,888	¥ 629,358	$ 6,305,906
International	671,291	549,764	668,472	6,273,747
Cargo:
Domestic	40,497	42,670	42,217	378,476
International	179,031	161,331	165,613	1,673,186
Incidental and other revenues	564,322	509,086	577,818	5,274,037
	2,129,876	1,931,742	2,083,480	19,905,383
Operating expenses (Note 10):
Wages, salaries and benefits	463,240	510,203	499,448	4,329,345
Aircraft fuel	288,405	244,341	245,921	2,695,373
Aircraft maintenance	89,428	82,206	81,139	835,775
Aircraft rent	100,644	86,720	91,921	940,598
Landing fees and other rent	239,288	233,230	231,835	2,236,336
Purchased services	111,943	106,695	111,922	1,046,196
Depreciation and amortization	124,713	119,388	118,187	1,165,542
Commission	126,264	113,396	125,717	1,180,037
Incidental and other expenses	529,799	503,203	566,796	4,951,392
	2,073,727	1,999,387	2,072,891	19,380,626
Operating income (loss)	56,149	(67,645)	10,589	524,757
Non-operating income (expenses):
Interest and dividend income	3,170	2,928	2,932	29,626
Interest expense (Note 10)	(24,875)	(28,503)	(34,657)	(232,476)
Exchange gain (loss), net	2,075	424	(1,975)	19,392
Flight equipment purchase incentives	48,386	29,260	42,075	452,205
Gain on sales of ground property and equipment	1,905	1,330	4,446	17,803
Gain on sales of investments in securities	1,334	1,235	4,623	12,467
Subsidies received for purchases of aircraft for isolated island routes	1,716	1,618	—	16,037
Gain recognized upon separation of substitutional portion of benefit obligation of welfare pension fund plan	—	755	—	—
Loss on sales and disposal of flight equipment	(17,417)	(13,946)	(10,637)	(162,775)
Loss on sales and disposal of ground property and equipment	(13,840)	(5,153)	(9,852)	(129,345)
Loss on investments in unconsolidated subsidiaries and affiliates	—	(6,518)	—	—
Equity in earnings of affiliates	1,514	1,221	340	14,149
Loss on cancellation of lease contracts	(9,682)	—	—	(90,485)
Expenses arising from business combination	—	—	(7,304)	—
Other, net	(5,767)	846	3,500	(53,897)
	(11,482)	(14,503)	(6,508)	(107,308)
Income (loss) before income taxes and minority interests	44,666	(82,148)	4,081	417,439
Income taxes (Note 7):
Current	7,897	8,854	8,100	73,803
Deferred	4,251	(3,092)	(16,468)	39,728
	12,148	5,761	(8,368)	113,532
Minority interests	(2,420)	(709)	(804)	(22,616)
Net income (loss)	¥30,096	¥(88,619)	¥11,645	$281,271

The accompanying notes are an integral part of these consolidated statements.

To page top

---