Top Message

TOTTORI Mitsuko
Representative Director, President
Chief Executive Officer
Japan Airlines Co., Ltd

Mar, 2025

We would like to express our gratitude to our shareholders and investors for their continued support.

Four years have passed since the Medium-Term Management Plan was formulated in FY2021. The plan started under very difficult circumstances, and there have been various changes in conditions, but we have steadily implemented the plan up to this point.
In the consolidated financial results for the third quarter of FY2024, we achieved an increase in both revenue and profit year-on-year. Revenue was JPY 1,385.9 billion (increase of 11% year-on-year), EBIT was JPY 144.2 billion (increase of 12% year-on-year), and net profit was 91.0 billion yen (increase of 6% year-on-year), the highest quarterly profit as the third quarter period alone (October to December) since our re-listing.
The earnings forecast for the full year of FY2024 is expected to achieve the EBIT of 170 billion yen that was forecasted at the beginning of the term, and the annual dividend forecast remains unchanged from the original plan at 80 yen per share (including an interim dividend of 40 yen per share, dividend payout ratio of approximately 35%).

On the other hand, the air transport demand has been structurally changing due to post-COVID business environment changes and global social/economic trends. Considering such circumstances, we formulated the “JAL Group Medium-Term Management Plan FY2021-2025 Rolling Plan 2025” (Rolling Plan 2025) on March 19 of this year. We will complete the Medium-Term Management Plan by achieving the management/profit targets for FY2025, the final year of the plan, and will lead to further growth in FY2026 and beyond.
The earnings forecast for FY2025 is Revenue of 1,977 billion yen (increase of 7% year-on-year), EBIT of 200 billion yen (increase of 18% year-on-year), net profit of 115 billion yen (increase of 15% year-on-year), and annual dividends of 92 yen (including an interim dividend of 46 yen, dividend payout ratio of approximately 35%) to ensure a continuous and stable shareholder return.
Capital financing will strengthen our financial base and increase the flexibility of our management resource allocation. We will promote investment for growth and strive to increase shareholder returns, including share buybacks.

The JAL Group will continue to work on enhancing corporate value continuously by concentrating the value-creation power of each employee, with safe operation as the utmost priority.