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Japan Airlines fiscal Q1 profit falls YOY

Japan Airlines Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥26.68 per share, a decrease of 18.8% from ¥32.85 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.67 billion, a decline of 18.8% from ¥11.91 billion in the prior-year period.

The normalized profit margin dropped to 3.2% from 4.1% in the year-earlier period.

Total revenue grew year over year to ¥307.08 billion from ¥294.10 billion, and total operating expenses rose 6.0% on an annual basis to ¥288.46 billion from ¥272.02 billion.

Reported net income declined 19.4% from the prior-year period to ¥14.78 billion, or ¥40.75 per share, from ¥18.34 billion, or ¥50.57 per share.

As of July 30, US$1 was equivalent to ¥102.83.