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Japan Airlines Co. vs ANA: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Japan Airlines Co., Ltd. (9201.JP)

Q3 2026
▼3▲1

JAL profit hit by fuel costs, but partnerships and domestic cooperation offer support

  • Fuel costs crush Q1 profit JAL's first-quarter net profit plunged 80.2% to 5.35 billion yen as fuel costs jumped 58.4% due to Middle East tensions. The core full-service carrier swung to a loss. This weakens near-term earnings and pressures the stock, though full-year and dividend forecasts were kept unchanged.

    This is the main negative force driving the stock down, explaining the profit collapse.

  • Fuel surcharges cut as fuel prices ease JAL and ANA will lower international fuel surcharges for September-October tickets to around 50,000-55,000 yen from a record 65,000 yen, following a fall in jet fuel prices. This reduces revenue per ticket, but also reflects easing cost pressure, so the net effect is mixed.

    It shows a direct revenue impact from lower surcharges, a key pricing factor for JAL.

  • Cargo-only flights to end Yamato and JAL will end domestic cargo-only flights by next June because high fuel and weak yen made air transport too costly. This removes a small but symbolic cargo operation, slightly reducing JAL's domestic cargo business and highlighting cost pressures.

    It shows a concrete business reduction due to high costs, affecting JAL's operations.

  • Partnerships and domestic cooperation JAL signed a strategic partnership with Korean Air to expand Asian and global collaboration, and for the first time will coordinate domestic schedules with rival ANA on the Haneda-Okayama route to improve load factors. These moves aim to boost demand and profitability, supporting the stock.

    These are new positive strategic moves that could improve JAL's competitive position and earnings.

August 2026
▼3▲1

JAL profit hit by fuel costs, but partnerships and domestic cooperation offer support

  • Fuel costs crush Q1 profit JAL's first-quarter net profit plunged 80.2% to 5.35 billion yen as fuel costs jumped 58.4% due to Middle East tensions. The core full-service carrier swung to a loss. This weakens near-term earnings and pressures the stock, though full-year and dividend forecasts were kept unchanged.

    This is the main negative force driving the stock down, explaining the profit collapse.

  • Fuel surcharges cut as fuel prices ease JAL and ANA will lower international fuel surcharges for September-October tickets to around 50,000-55,000 yen from a record 65,000 yen, following a fall in jet fuel prices. This reduces revenue per ticket, but also reflects easing cost pressure, so the net effect is mixed.

    It shows a direct revenue impact from lower surcharges, a key pricing factor for JAL.

  • Cargo-only flights to end Yamato and JAL will end domestic cargo-only flights by next June because high fuel and weak yen made air transport too costly. This removes a small but symbolic cargo operation, slightly reducing JAL's domestic cargo business and highlighting cost pressures.

    It shows a concrete business reduction due to high costs, affecting JAL's operations.

  • Partnerships and domestic cooperation JAL signed a strategic partnership with Korean Air to expand Asian and global collaboration, and for the first time will coordinate domestic schedules with rival ANA on the Haneda-Okayama route to improve load factors. These moves aim to boost demand and profitability, supporting the stock.

    These are new positive strategic moves that could improve JAL's competitive position and earnings.

Latest
▼3▲1

JAL profit hit by fuel costs, but partnerships and domestic cooperation offer support

  • Fuel costs crush Q1 profit JAL's first-quarter net profit plunged 80.2% to 5.35 billion yen as fuel costs jumped 58.4% due to Middle East tensions. The core full-service carrier swung to a loss. This weakens near-term earnings and pressures the stock, though full-year and dividend forecasts were kept unchanged.

    This is the main negative force driving the stock down, explaining the profit collapse.

  • Fuel surcharges cut as fuel prices ease JAL and ANA will lower international fuel surcharges for September-October tickets to around 50,000-55,000 yen from a record 65,000 yen, following a fall in jet fuel prices. This reduces revenue per ticket, but also reflects easing cost pressure, so the net effect is mixed.

    It shows a direct revenue impact from lower surcharges, a key pricing factor for JAL.

  • Cargo-only flights to end Yamato and JAL will end domestic cargo-only flights by next June because high fuel and weak yen made air transport too costly. This removes a small but symbolic cargo operation, slightly reducing JAL's domestic cargo business and highlighting cost pressures.

    It shows a concrete business reduction due to high costs, affecting JAL's operations.

  • Partnerships and domestic cooperation JAL signed a strategic partnership with Korean Air to expand Asian and global collaboration, and for the first time will coordinate domestic schedules with rival ANA on the Haneda-Okayama route to improve load factors. These moves aim to boost demand and profitability, supporting the stock.

    These are new positive strategic moves that could improve JAL's competitive position and earnings.

ANA Holdings Inc. (9202.JP)

Q3 2026
▼2▲1

ANA's profit squeezed by fuel costs; schedule pact and safety probe shape outlook

  • Fuel costs crush quarterly profit despite record revenue ANA's April–June revenue hit a record 672.7 billion yen, up 22.6%, but operating profit fell 43.5% to 20.7 billion yen as fuel costs and taxes jumped 86.9 billion yen. The full-year forecast and a dividend cut to 60 yen were kept unchanged, so the profit squeeze is the main drag on the shares.

    This is the period's core earnings event and the biggest force pushing 9202.JP down.

  • Fuel surcharges falling as jet fuel prices ease ANA and JAL will cut international fuel surcharges to about 50,000–55,000 yen for September–October tickets, down from a record 65,000 yen, because jet fuel prices have fallen. Lower surcharges trim revenue per ticket, but cheaper fuel eases the cost pressure that crushed profits, so the net effect is mixed.

    It shows the fuel-cost swing working in both directions on ANA's revenue and margins.

  • First-ever schedule coordination with JAL on domestic routes ANA and rival JAL will coordinate Haneda–Okayama departure times from late October, avoiding overlaps to lift load factors on money-losing domestic routes. Regulators signalled this does not break antitrust rules, opening the door to similar cooperation elsewhere and improving domestic profitability.

    It is a new structural change that could improve ANA's weakest business, domestic routes.

  • Naha emergency evacuation classified a serious incident An ANA Boeing 737-800 turned back to Naha with engine trouble and passengers evacuated by slide; three people had minor injuries. Regulators classified it a serious incident and are investigating. Such events can bring scrutiny, repair costs and reputational risk, weighing on sentiment even if operations continue normally.

    It is the period's newest safety event and a fresh risk to ANA's reputation and regulatory standing.

August 2026
▼2▲1

ANA's profit squeezed by fuel costs; schedule pact and safety probe shape outlook

  • Fuel costs crush quarterly profit despite record revenue ANA's April–June revenue hit a record 672.7 billion yen, up 22.6%, but operating profit fell 43.5% to 20.7 billion yen as fuel costs and taxes jumped 86.9 billion yen. The full-year forecast and a dividend cut to 60 yen were kept unchanged, so the profit squeeze is the main drag on the shares.

    This is the period's core earnings event and the biggest force pushing 9202.JP down.

  • Fuel surcharges falling as jet fuel prices ease ANA and JAL will cut international fuel surcharges to about 50,000–55,000 yen for September–October tickets, down from a record 65,000 yen, because jet fuel prices have fallen. Lower surcharges trim revenue per ticket, but cheaper fuel eases the cost pressure that crushed profits, so the net effect is mixed.

    It shows the fuel-cost swing working in both directions on ANA's revenue and margins.

  • First-ever schedule coordination with JAL on domestic routes ANA and rival JAL will coordinate Haneda–Okayama departure times from late October, avoiding overlaps to lift load factors on money-losing domestic routes. Regulators signalled this does not break antitrust rules, opening the door to similar cooperation elsewhere and improving domestic profitability.

    It is a new structural change that could improve ANA's weakest business, domestic routes.

  • Naha emergency evacuation classified a serious incident An ANA Boeing 737-800 turned back to Naha with engine trouble and passengers evacuated by slide; three people had minor injuries. Regulators classified it a serious incident and are investigating. Such events can bring scrutiny, repair costs and reputational risk, weighing on sentiment even if operations continue normally.

    It is the period's newest safety event and a fresh risk to ANA's reputation and regulatory standing.

Latest
▼2▲1

ANA's profit squeezed by fuel costs; schedule pact and safety probe shape outlook

  • Fuel costs crush quarterly profit despite record revenue ANA's April–June revenue hit a record 672.7 billion yen, up 22.6%, but operating profit fell 43.5% to 20.7 billion yen as fuel costs and taxes jumped 86.9 billion yen. The full-year forecast and a dividend cut to 60 yen were kept unchanged, so the profit squeeze is the main drag on the shares.

    This is the period's core earnings event and the biggest force pushing 9202.JP down.

  • Fuel surcharges falling as jet fuel prices ease ANA and JAL will cut international fuel surcharges to about 50,000–55,000 yen for September–October tickets, down from a record 65,000 yen, because jet fuel prices have fallen. Lower surcharges trim revenue per ticket, but cheaper fuel eases the cost pressure that crushed profits, so the net effect is mixed.

    It shows the fuel-cost swing working in both directions on ANA's revenue and margins.

  • First-ever schedule coordination with JAL on domestic routes ANA and rival JAL will coordinate Haneda–Okayama departure times from late October, avoiding overlaps to lift load factors on money-losing domestic routes. Regulators signalled this does not break antitrust rules, opening the door to similar cooperation elsewhere and improving domestic profitability.

    It is a new structural change that could improve ANA's weakest business, domestic routes.

  • Naha emergency evacuation classified a serious incident An ANA Boeing 737-800 turned back to Naha with engine trouble and passengers evacuated by slide; three people had minor injuries. Regulators classified it a serious incident and are investigating. Such events can bring scrutiny, repair costs and reputational risk, weighing on sentiment even if operations continue normally.

    It is the period's newest safety event and a fresh risk to ANA's reputation and regulatory standing.