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    QAN   AU000000QAN2

QANTAS AIRWAYS LIMITED

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Japan Airlines aims for discount network to capture post-coronavirus tourism

10/07/2020 | 04:35am EDT
FILE PHOTO: An employee of Japan Airlines (JAL) is pictured at Kansai International Airport in Osaka

TOKYO (Reuters) - Japan Airlines wants to create a low-cost carrier network with three of its discount carriers to tap leisure travel that, unlike business travel, could rebound as the coronavirus wanes, the company president said on Wednesday.

"Aviation won't return to what it was before and business travel demand could even shrink further. One of our targets is tourism," Yuji Akasaka told a media briefing.

Japan Airlines' three low-cost regional carriers include Jetstar, which it operates with Qantas Airlines,, Spring Airlines Japan, a joint venture with China's Spring Airlines, and its wholly owned ZIPAIR unit.

Akasaka did not say whether Japan would seek to formally merge their operations through acquisitions.

Japan Airlines, like other carriers, has been hammered by a collapse in international air travel to about a tenth of what it was before the coronavirus outbreak, but has seen domestic flight demand rebound helped by a government campaign to promote tourism.

"The impact of that campaign has been significant and in late September going into October we are seeing traveler numbers increase to about 50% of what they were a year ago," Akasaka said.

To survive the downturn in demand, which Japan Airlines expects to last until at least 2024 on international routes, Akasaka said the carrier would look to boost revenue from non-airline businesses such as drone parcel deliveries.

Japan Airlines last month announced a tie-up with Matternet, to launch the U.S. company's urban drone logistics business in Japan. This year, it also invested in a German start up, Volocopter, that is developing air taxis.

(Reporting by Maki Shiraki; Writing by Tim Kelly; Editing by Jacqueline Wong, Robert Birsel)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
JAPAN AIRLINES CO., LTD. 3.25% 2636 End-of-day quote.32.13%
QANTAS AIRWAYS LIMITED 2.84% 5.8 End-of-day quote.19.59%
SPRING AIRLINES CO., LTD. 1.98% 54.17 End-of-day quote.-2.27%
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Financials
Sales 2022 9 123 M 6 635 M 6 635 M
Net income 2022 -662 M -481 M -481 M
Net Debt 2022 4 825 M 3 509 M 3 509 M
P/E ratio 2022 -16,0x
Yield 2022 0,01%
Capitalization 10 921 M 7 955 M 7 943 M
EV / Sales 2022 1,73x
EV / Sales 2023 0,96x
Nbr of Employees 22 000
Free-Float 97,8%
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Number of Analysts 13
Last Close Price 5,80 AUD
Average target price 5,99 AUD
Spread / Average Target 3,24%
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Managers and Directors
Alan Joseph Joyce CEO, Executive Director & Managing Director
Vanessa Hudson Chief Financial Officer
Richard J. B. Goyder Chairman
Robert Marcolina Group Executive-Strategy, People & Technology
Barbara Kay Ward Independent Non-Executive Director
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