Japanese carrier Skymark Airlines has seen strong profit and revenue growth in the first nine months of its 2023 financial year.

For the three quarters ended 31 December 2023, Skymark saw operating profits rise 55% year on year to Y5.2 billion ($34.8 million).

Skymark 737-800

Carrier says ‘normalisation’ of activities post-Covid contributed to strong performance

Revenues were also up, rising 25% year on year to Y78.2 billion, with net profits nearly tripling to Y4.2 billion.

The carrier indicates that its recovery is largely due to the “normalisation of economic and social activities” following the coronavirus pandemic.

During the period, Skymark’s capacity, measured in ASKs, rose 1.9% while revenue passenger kilometres grew 15.5%. The number of passengers carried grew 15.8% to 6 million.

As of 31 December, Skymark operated 29 Boeing 737-800s, the same number as a year earlier.

Looking forward, Skymark warns that the outlook remains uncertain owing to the weakening Japanese Yen, rising energy prices, and a tense global geopolitical environment.

Still, it expects travel demand to Japan to remain strong, helped by a weaker currency.