国際線月別旅客数前年比

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1 153 The Briefing on JAL Group s Semiannual Account Settlement of FY2002 November 18, 2002 Japan Airlines System Corporation

2 Table of Contents 1 JAL 2002

3 Agenda for today. Semiannual Account Settlement of JAL in FY2002. Semiannual Account Settlement of JAS in FY JAL Forecast of Business Results of JAL Group in FY JAL 2002

Semiannual Account Settlement of JAS in FY2002.

4 . Semiannual Account Settlement of JAL in FY JAL 2002

5 Gist of the Consolidated Financial Statements (Unit:100mil yen) Operating Revenue ,581 Year on Year (yr/yr) 1.5% Difference of Non- & Consolidated 2,222 Operating Income % 94 Ordinary Income % 91 Net Income % 24 4 JAL 2002

5% Difference of Non- & Consolidated 2,222 Operating Income 285

6 Gist of Consolidated Statements of Cash Flows Net Cash provided by Operating ativities Net Cash used in investing Activities Net Cash provided by financing activities 260 Net (decrease) increase in Cash and Equivalents FH01(A) Cash and cash equivalents at end of Year FH02(B) 1, , ,533 Difference (B)-(A) JAL 2002

Net (decrease) increase in Cash and Equivalents FH01(A) 568 316 510 970 Cash and cash

7 Unit:100mil yen Revenues & Operating Income by Segment Hotel & Resort Travel Services Aviation -related Air Transportation Unit:100mil yen Hotel & Resort Travel Services Aviation -related Air Transportation Operating Revenue Operating Income 6 JAL 2002

Unit:100mil yen Hotel & Operating Revenue Operating Income 6

8 Gist of the results of Air Transportation Segment Unit:100mil yen Operating Revenue Unit:100mil yen Operating Income(Loss) Operating Revenue/year on year/operating income/year on year/ Net income/ year on year 7 JAL 2002

Operating Income(Loss) Operating Revenue/year on

9 Associated Businesses Others 10% International Cargo Breakdown of the Revenues of Air Transportation Segment 7% 5% FH01 53% International Passenger Associated Businesses Others 11% International Cargo FH02 7% 6% 51% International Passenger 25% Domestic Passenger 25% Domestic Passenger 8 JAL 2002

Passenger Associated Businesses Others 11% International Cargo FH02 7% 6%

10 Results of International Passenger International Passenger Revenue 3,435 (343.5 yen) 109 Yr/yr (10.9bln yen) yr/yr Revenue RPK ASK Yield ( (Exc Forex) JAL*(3% IP 5% 5% +2% +% JAA 6% 9% 1% +% +% Total 3% 5% 5% +% +% 9

11 Number of International Passengers by routes(yr/yr) (%) L/F FH FH Continental/Hawaii/Europe/Southeast Asia/ Oceania/Guam/China/Korean/Taiwan 10 JAL 2002

12 Results of Domestic Passenger Domestic Passenger Revenue 1, bln yen 15 yr/yr 1.5 bln yen yr/yr Revenue JAL( ) DP JEX JTA J-AIR Total Revenue 1% 9% 0% +34% 1% RPK +1% 6% +1% +33% +1% ASK 0% 8% 1% +22% 0% Yield 2% 2% 1% 0% 2% 11 JAL 2002

13 Results of International Cargo yr/yr Revenue Yield Yield (Exc Forex) International Cargo Tonnage by routes (year on year) On a Tonnage basis JAA Total JAL ( IC +13% +9% +13% RCTK +11% +37% +12% * +2% 21% +% * Pacific ( +1% 21% 0% * Europe Southeast Asia & Others International Cargo Revenue bln yen 85 yr/yr 8.5 bln yen 12 JAL 2002

+9% +13% RCTK +11% +37% +12% * +2% 21% +% * Pacific ( +1% 21% 0% * Europe Southeast

14 Breakdown of the Operating Expenses of Air Transportation Segment 13 JAL 2002

15 SIN kerosene US$/bbl Sources:Bloomberg Fuel Hedge Policy Average 5 Hedge rate : About 50% of forecasted consumption amount FH01 US$ 30.0 SH01 US$ 24.5 FH02 US$ JAL 2002

16 Effects of Forex on Revenues(Non-Consolidated) Exchange Rate Forex USD EUR HKD FH FH Average of Company exchange rate for Apr. to Sep. (FH Revenues 21 Expenses USA Forex effects (FH2002) +30 Operating Revenues +39 Operating Expenses 8 Income Components of Foreign Currencies Europe Asia, Oceania Unit:100mil yen Others Total JAL 2002

(FH2002 7 Revenues 21 Expenses USA Forex effects (FH2002) +30 Operating Revenues +39 Operating

17 * Aviation-related Business Segment * Unit:100mil yen Operating Revenue Operating Income(Loss) Operating Revenue/year on year/operating income/year on year/ Net income/ year on year Unit:100mil yen 16 JAL 2002 Unit:100mil yen

Revenue/year on year/operating income/year on year/ Net

18 Travel Services Segment Operating Revenue Unit:100mil yen Operating Income(Loss) Operating Revenue/year on year/operating income/year on year/ Net income/ year on year Unit:100mil yen 17 JAL 2002

19 Hotel & Resort Operations Segment Operating Revenue Unit:100mil yen Unit:100mil yen Operating Income(Loss) Operating Revenue/year on year/operating income/year on year/ Net income/ year on year 18 JAL 2002

20 Topics of FH Opening of the Second Runway at Narita (April) Increase of flights Tokyo Routes (JAL) Shift from KIX to NRT (JAS) Expansion of slots at Haneda (July) JAL Entry into monopolistic routes by rival airlines (JAL) JAS Increase flights on heavy-demand routes (JAS) Alliance WOW Accession to WOW (July), Code-sharing with MU(Sept.) 7 Introduction of Shell Flat Seats JAL CHINA 7 JAL Business CHINA (July) 7 9 JAL,JAS 19 JAL 2002

airlines (JAL) JAS Increase flights on heavy-demand routes (JAS) Alliance WOW Accession to WOW (July),

21 . Semiannual Account Settlement of JAS in FY JAL 2002

22 Gist of the Consolidated Financial Statements (Unit:100mil yen) Operating Revenue ,074 Year on year 6.6% Difference of Non- & Consolidated 293 Operating Income % 8 Ordinary Income % 10 Net Income % 6 21 JAL 2002

23 Gist of Consolidated Statements of Cash Flows FH01(A) FH02(B) Difference (B)-(A) ( JAL 2002

24 Gist of the results of Air Transportation Segment Unit:100mil yen Operating Revenue Operating Income(Loss) Unit:100mil yen Operating Revenue/year on year/operating income/year on year/ Net income/ year on year 23 JAL 2002

25 International Cargo Breakdown of the Revenues of Air Transportation Segment FH01 Associated Others Businesses 6% 1% 6% International Passenger 1% Others 1% International Cargo FH02 Associated Businesses 1% 6% 5% International Passenger Domestic Passenger 86% 87% Domestic Passenger 24 JAL 2002

26 Results of Domestic Passengers Domestic Passenger Revenue 1, bln yen 81 yr/yr 8.1 yen yr/yr 25 JAL 2002

27 Breakdown of the Operating Expenses of Air Transportation Segment 26 JAL 2002

28 CIF US$/bbl Sources: 02 7 Average FH01 US$ 26.5 FH02 US$ 24.6 Hedge rate : About 70% of forecasted consumption amount 27 JAL 2002

29 Effects of Forex on Revenues(Non-Consolidated) Forex effects (FH2002) 0.7 Operating Revenues +5 Operating Expenses 6 Income Unit:100mil yen FH02 2 Approx.2% of Operating Revenue (Asian currencies) 11 Approx.11% of Operating Expenses (Dollar) Components of Foreign Currencies 28 JAL 2002

30 JAL Forecast for FY2002 (JAL Group) 29 JAL 2002

31 2002 (yr/yr) Trends of Demand by Segment (FH02/FH01) JAL +JAS 1st Half Results (yr/yr) IP 5% DP 1% IC +16% Aftermath of the incident in Bali /15 Cancellation: OCT:approx 7,000 (0.4 bln yen) NOV: approx 10,000 (as of NOV 15) 30 JAL 2002

32 2002 Assumptions of the Forecast for FY2002 International Domestic passenger Passenger International Cargo International passenger Domestic Passenger International Cargo demand yield Forex Singapore Kerosene) CIF JAPAN) 31 JAL 2002

33 Forecast for FY2002 (Consolidated) (Unit:100million yen) Operating Revenue International Passenger FY01 FY02 7/15 Forecast (a) 6,325 6,890 FY02 11/15 ) Forecast (b) 20,295 21,170 20,900 6,840 7/15 (b)-(a) 270 Domestic Passenger International Cargo Others Operating Income Ordinary Income(Loss) Net Income (Loss) ROE 6,502 1,376 6, ,480 1,460 6,340 6, ,320 1, Interest-bearing Debts Operating CF 32 JAL 2002 JAL JAS JAL(consolidated)+JAS(consolidated)

34 Forecast for FY2002 (By Business Segment) Business Segment Air Transportation Aviation-related Travel Services Hotel & Resort Consolidated Adjustments Total Operating Revenue Operating Income Net Income (Loss) Unit:100mil yen 33 JAL 2002

35 2002 Capital Investment Depreciation Unit:100mil yen Unit:100mil yen Forecast 34 JAL 2002

36 2002 Interest-bearing Debts Unit:100mil yen / bln yen (compared with Mar. 2002) 35 JAL 2002

37 2002 Progress of the Integration HND=MMBOBOJAS JAL Route Plan 10 HKG 10 JAS System (Reservation etc.) FFP Sales Wholesale FY2002(Oct. 1 HNDOKJ/UBJNGO=FUK Network 10 FY / FY2004 JAL 4 Implemented 36 JAL 2002

38 2002 Integration Effects Cost-reduction Effects Reduction of Rents ect. Job Reduction Fleet Reduction Other Reduction Fall in Revenue Airfare Cuts Return of Slots Increase in Revenue Total Integration Effects Additional Cost Increase Net Integration Effects 37 JAL 2002

39 2002 (Ref.) Fleet Plan for FY2002 Owned As of Sep.30, JAL 2002

40 Contact Address IR Japan Airline System Corporation IR Desk TEL: (03) FAX: (03) Office Hour: Address: Shinagawa Intercity, Konan, Minato-ku, Tokyo URL: 39 JAL 2002

41 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 s Financial Statements for First half Results of FY2002. The copyright of this document belongs Japan Airlines System Corporation. 40 JAL 2002

Safe harbor statement under the Private Securities Litigation Reform Act of 1995: This presentation may contain forward-looking statements that involv

/mokamoto @mitsuhiro in/mitsuhiro Safe harbor statement under the Private Securities Litigation Reform Act of 1995: This presentation may contain forward-looking statements that involve risks, uncertainties,