Japan's JAL and ANA see Q1 revenue growth but profits drop

Major airlines hit by rising fuel and maintenance costs due to weak yen

JAL and ANA have seen increased passenger loads -- and have raised some fares -- but the weak yen has offset gains by making fuel and aircraft upkeep more costly. (Photo by Konosuke Urata)

NANCY ZHENG, Nikkei staff writer

July 31, 2024 21:50 JST

TOKYO -- Japan's main airlines, Japan Airlines (JAL) and ANA Holdings, reported increases in revenue for the quarter ended in June, but both saw reduced net profits due to higher maintenance and labor costs.

JAL reported on Wednesday an 11% year-on-year increase to 424 billion yen ($2.8 billion) in the first three months of the financial year ending March 2025, while net profit was down 39% to 13.9 billion yen.