JAL Group s s Semiannual Settlement for FY2004

Transcription

1 JAL Group s s Semiannual Settlement for FY2004 November 8, 2004 Japan Airlines Corporation 0 JAL 2004

2 Table of Contents Semiannual Settlement for FY2004 II Future Measures Outline of the Consolidted Financial Statements Future Measures (1) Revenue & Operating Income by Segment Future Measures (2) Outline of the Results of Air Transportation Segment Results of International Passenger Appendix Demand & Supply of International Passengers by Route Assumptions Results of Domestic Passenger Results of International Cargo Outline of the Breakdown of Operating Cost Fuel & FOREX Interest-bearig Debt Results of Main Subsidiaries Forecast of Business Performance for FY2004 and Future Measures Forecast of Business Performance for FY2004 Factors of Adjustment to the Forecast Downturn Factors (1) - Revenue Decrease in Passenger Business Downturn Factors (2) - Fuel Cost Remedial Measures Increase of Airfare & Fuel Surcharge Cost Reduction, Revision of Routes & Flights etc. New Retirement Benefit Scheme & Credit Memos 1 JAL 2004

3 Agenda for Today Part 1 Semiannual Settlement for FY2004 Part 2 Forecast of Business Performance for FY2004 and Future Measures 2 JAL 2004

4 Part Semiannual Settlement for FY JAL 2004

5 . Semiannual Settlement for FY2004 Outline of the Consolidated Financial Statements 4 JAL 2004

6 . Semiannual Settlement for FY2004 Revenue & Operating Income by Segment Transportaion Airline-related Travel Services Billions of Yen Operating Operating Revenue Income (+112.6) 77.1 (+125.4) (+23.2) 3.5 (+4.1) (+38.3) 1.0 (+3.0) Travel Services 16% Operating Revenue Others 9% Others difference from FH (+6.5) 5.6 (+3.7) Airline-related 11% Air Transportation 64% 5 JAL 2004

7 . Semiannual Settlement for FY2004 Outline of the Results of Air Transportation Segment ( ) Yr/Yr Difference Billions of Yen Billions of Yen 6 JAL 2004

8 . Semiannual Settlement for FY2004 Results of International Passenger International Passenger Revenue 346.0bln (Yr/Yr difference bln) y.o.y difference L/F FH % FH % Forex 7 JAL 2004

9 . Semiannual Settlement for FY2004 Demand & Supply of International Passengers by Route 8 JAL 2004

10 . Semiannual Settlement for FY2004 Results of Domestic Passenger Domestic Passenger Revenue 344.9bln Yr/Yr difference+1.0bln L/F FH % FH % 9 JAL 2004

11 . Semiannual Settlement for FY2004 Results of International Cargo International Cargo Revenue 83.5bln Yr/Yr difference+12.1bln International Cargo Tonnage by Route (y.o.y %) Revenue RCTK (including China) Yield 10 JAL 2004

12 . Semiannual Settlement for FY2004 Outline of the Breakdown of Operating Cost (Air Transportation Segment) 11 JAL 2004

13 . Semiannual Segments for FY2004 Fuel & FOREX (Air Transportation Segment) Fuel Averaged Fuel Price (SIN Kerosene) FH04 $44.4/bbl (FH03 $30.6/bbl) (FH02 $27.5/bbl) Fuel Price (SIN Kerosene) at the beginning of the month FOREX 12 JAL 2004

14 . Semiannual Segments for FY2004 Interest-bearing Debt Billions of Yen 13 JAL 2004

15 . Semiannual Settlement for FY2004 Results of Main Subsidiaries Airline-related Business Segment Travel Services Segment Other Segment 14 JAL 2004

16 Part 2 Forecast of Business Performance for 2004 & Future Measures I. Forecast of Business Performance for JAL 2004

17 . Forecast of Business for FY2004 Forecast of Business Performance for FY2004 Billions of Yen Forecast Corrected Forecast Difference on May 7, 2004 (a) 2,190 on Nov 5,2004 (b) (b)-(a) , JAL 2004

18 . Forecast of Business Performance for FY2004 Factors of Adjustment to the Forecast Downturn factors Upturn factors (1) Remedial Measures 2 3 (2) 3 * Excluding revenue increase by airfare hike & revision of routes and flights plan 17 JAL 2004

19 . Forecast of Business Performance for FY2004 Downturn Factors (1) (Revenue decrease in Passenger Businesses) Comparison between the Initial Plan and the Revised Forecast Difference 53 bln yen (* Excluding revenue increase by airfare hike & revision of routes and flights plan) Initial Plan Revised Initial Plan Revised International Passenger Domestic Passenger 18 JAL 2004

20 . Forecast of Business Performance for FY2004 Downturn factor (2) (Fuel Cost) Impact of the Change of Fuel Price from the Original Forecast: 55 bln + 25 bln yen FY04 LH Assumed $62/bbl Hedge ratio for FY04 LH A little more than 50% Hedged 40% at less than $34/bbl + 30 bln yen 19

21 . Forecast of Business Performance for FY2004 Remedial Measures Total amount of Remedial Measures : 47 bln Unit : billions of yen * After deduction of increased commission fees 20 JAL 2004

22 . Forecast of Business Performance for FY2004 Increase of Airfare & Fuel Surcharge 1 Increase of Fuel Surcharge Total Increased Amount: 14 bln yen (after deduction of sales commission fees) International Cargo Domestic Passenger July 16 18/kg 24/kg Oct /kg 30/kg Introduction of Special Charge to cope with Fuel Hike From Jan. 11 : Each passenger will be charged additional 300 per flight. ( 200 for the flight within 300km) Increase of normal fares or some discount fares International Passenger From July 1 Normal fares, JAL Business Saver, JAL Business Saver for couples, "JAL Economy Saver", and "JAA Economy Saver" were increased by 5%. From Jan. 11: Additional fare hike is assumed. 21 JAL 2004

23 . Forecast of Business Performance for FY2004 Cost Reduction, Revision of Routes & Flights, Improvement of non-operating Income 2 Total Amount for FY04: 33 bln yen Cost Reduction & Increase in Handling Revenue 22 bln yen Revision of Routes & Flights 5 bln yen, Improvement of nonoperating Income 6 bln yen Reduction of Fixed Costs including Personnel Cost : 13 bln Revision of maintenance-related Plan : 3.6 bln Increase of Handling Revenue at airports : 3 bln Promotion of e-business, Revision of Reservation etc. IP & DP : Revision of Routes and Flights Plan IC : Revision of Routes and Flights Plan & Revenue Increase Revision of Parts Disposal Plan & Improvement of financial Income 22 JAL 2004

24 . Forecast of Business Performance for FY2004 Introduction of New Retirement Benefit Scheme and Credit Memos 3 Difference from the initial Forecast : 46 bln yen Impact of the introduction of the new scheme Initial Forecast: 32bln Increased by + 33 billion Revised to 65 bln Annual amount of credit memos Initial Forecast: 35bln Increased by + 13 billion Revised to 48 bln 23 JAL 2004

25 Part 2 II. Future Measures 24 JAL 2004

26 . Future measures Future measures (1) Challenges to be considered Continuance of Fuel Hike Business Opportunities e.g. Increase in Slots at Haneda & Narita airport Negative exteriorities e.g. terrorism, epidemics Provision of Services to be chosen by customers 25 JAL 2004

27 . Future measures Future measures (2) To devise future business plan In order to overcome negative exteriorities Profit increase by cost reduction Improvement of asset utilization & carefully selected investment Drastic reform of cost structure... To the next medium-term business plan 26 JAL 2004

28 Appendix 27 JAL 2004

29 Appendix Assumptions 28 JAL 2004

30 Appendix Forecast of Business Results for FY2004 by Segment 29 JAL 2004

31 Appendix Forecast of Operating Cost (Air Transportation Segments) 30 JAL 2004

32 Appendix Capital Expenditure and Depreciation 31 JAL 2004

33 Appendix Interest-bearing Debt 32 JAL 2004

34 <Notice> <Contact Address> Japan Airlines Corporation, IR Desk TEL: (03) FAX: (03) Office Hour: Weekday 9: Address: JAL Bldg , Higashi-Shinagawa Shinagawa-ku, Tokyo (N.B.) Please refer to the Financial Information ( Kessan Tanshin ) for the precise figures on the account settlement. Any statements in this document, other than those of historical facts, are forward-looking statements about future performance, which are based on management s assumptions and beliefs in light of information currently available, and involve risks and uncertainties. Actual results may differ materially from these forecasts. This document is published as supplemental materials for the Briefing on JAL Group s Semiannual Settlement for FY2004. The copyright of this document belongs to Japan Airlines Corporation. You can watch this presentation on our Homepage (Sorry! Only in Japanese). Please refer to the following URL: 33 JAL 2004