Japan Airlines
Logotype for Japan Airlines Co. Ltd

Japan Airlines (9201) investor relations material

Japan Airlines Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Japan Airlines Co. Ltd
Q3 2026 earnings summary3 Feb, 2026

Executive summary

  • Achieved record-high EBIT and revenue for Q3 FY2025, with revenue for the nine months ended December 31, 2025, rising 9.2% year-over-year to ¥1,513.7 billion, EBIT up 24.2% to ¥179.1 billion, and profit attributable to owners up 24.9% to ¥113.7 billion, driven by strong international and domestic passenger demand and effective demand stimulus measures.

  • International and domestic passenger sales grew strongly, supported by robust inbound demand and flexible revenue management.

  • The company maintained sufficient liquidity, with cash and cash equivalents at ¥900.2 billion and an unused credit line of ¥150.0 billion.

  • Safety incidents occurred, including two turbulence-related injuries and one engine shutdown, prompting enhanced safety measures.

Financial highlights

  • Revenue increased by ¥127.8 billion (+9.2%) year-over-year to ¥1,513.7 billion for Q3, with EBIT rising by ¥34.8 billion (+24.2%) to ¥179.1 billion and net profit up by ¥22.6 billion (+24.9%) to ¥113.7 billion.

  • Operating expenses increased by ¥105.1 billion (+8.4%), with fuel costs up 4.6% and personnel costs up 9.5%.

  • EBITDA margin improved to 20.0% from 18.8% year-over-year; EBIT margin improved from 10.4% to 13.1%.

  • Basic earnings per share rose to ¥254.08 from ¥208.45 year-over-year.

  • Total assets increased to ¥3,038.8 billion, and total equity rose to ¥1,267.5 billion as of December 31, 2025.

Outlook and guidance

  • FY2025 full-year revenue forecast at ¥1,977.0 billion and EBIT at ¥200.0 billion, with profit attributable to owners at ¥115.0 billion.

  • Dividend forecast for FY2025 is ¥92.00 per share, with no revisions to previous guidance.

  • Sensitivity to fuel and FX rates highlighted, with profit impact scenarios provided.

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Frequently asked questions

Japan Airlines Co., Ltd. is an international airline and Japan's flag carrier. The company provides scheduled and non-scheduled air transport services, including offering domestic and international passenger, ground handling, and cargo air transport services. Japan Airlines Co., Ltd. was founded in 1951, and is headquartered in Shinagawa, Tokyo.

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