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    9201   JP3705200008

JAPAN AIRLINES CO., LTD.

(9201)
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Japan Airlines : JAL to make Chinese LCC Spring Airlines Japan unit a subsidiary

04/25/2021 | 09:28pm EDT

Japan Airlines Co. is planning to make a unit of Chinese low-cost carrier Spring Airlines Co. a subsidiary to meet an expected recovery in tourism demand after the coronavirus pandemic subsides, sources familiar with the matter said Sunday.

JAL, which currently has about a 5 percent stake in Spring Airlines Japan Co., will invest an additional several billion yen possibly in June to increase its stake to 51 percent or more, the sources said.

The major Japanese airline is eager to cash in on the projected return of Chinese tourists to Japan following the end of the pandemic. The company is expected to release details of the investment in its midterm business plan to be released on May 7, they said.

In November, JAL raised around 180 billion yen ($1.7 billion) through a public stock offering and other means to survive the pandemic and cover replacement costs for its fleet.

The company has said it will allocate 10 billion yen of the total to investments toward Spring Airlines Japan and Jetstar Japan Co., an LCC airline in which JAL has a 50 percent stake.

In the year through December 2019, Spring Airlines Japan posted a net loss of 2.7 billion yen. Last year, the LCC reduced its staff through efforts including voluntary retirement.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
JAPAN AIRLINES CO., LTD. 1.23% 2392 End-of-day quote.19.90%
SPRING AIRLINES CO., LTD. 1.55% 54.99 End-of-day quote.-0.79%
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Analyst Recommendations on JAPAN AIRLINES CO., LTD.
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Financials
Sales 2022 796 B 7 237 M 7 237 M
Net income 2022 -102 153 M -929 M -929 M
Net Debt 2022 139 B 1 262 M 1 262 M
P/E ratio 2022 -9,67x
Yield 2022 -
Capitalization 1 045 B 9 513 M 9 502 M
EV / Sales 2022 1,49x
EV / Sales 2023 0,92x
Nbr of Employees 36 060
Free-Float 95,6%
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Japan Airlines Co., Ltd. Technical Analysis Chart | 9201 | JP3705200008 | MarketScreener
Technical analysis trends JAPAN AIRLINES CO., LTD.
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Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 2 392,00 JPY
Average target price 2 788,18 JPY
Spread / Average Target 16,6%
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Managers and Directors
Yuji Akasaka Executive President & Representative Director
Yoshiharu Ueki Chairman
Toshiki Oka Executive Officer & GM-IT Planning
Takahiro Abe Executive Officer & General Manager-Operations
Yuji Saito Executive Officer & GM-Administration
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