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Fuel costs and natural disasters erode Jetstar Japan profit

Jetstar Japan posted a 4.1% decline in net profit to Y914 million ($8.5 million) for the year ended 30 June as rising fuel costs and natural disasters offset stronger revenue.

Operating revenue gained 6.2% to Y60.5 billion, on the back of 3% growth passenger volumes, but operating profit declined by the same magnitude to Y1.06 billion.

At the end of the period, Jetstar Japan had 25 aircraft in its fleet as it took delivery of three Airbus A320s.

It plans to introduce three A321LRs from the middle of next year, and targets to have 35 aircraft in its fleet by 2023. This will be contingent upon market conditions and the airline’s operational resource capabilities.

Summing up the year’s activities, Jetstar Japan says the introduction of new aircraft and route network expansion have proceeded smoothly. It now operates up to 132 flights a day, with plans to launch five new domestic routes: Narita-Nagasaki, Kansai-Kumamoto, Narita-Kochi, Kansai-Kochi, and Narita-Shimoshima.

Headquartered at Narita, Jetstar Japan is the country’s largest domestic low-cost carrier, and flies internationally to Hong Kong, Shanghai, Manila and Taipei.

Japan Airlines and Qantas each hold a 33% stake in the carrier, with the remainder split between Tokyo Century Corporation and Mitsubishi Corporation.

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