JAL posts record high ¥1.84 tril revenue since its relisting in 2012
Japan Airlines Co. said Friday its revenues rose 11.6 percent from the year before to 1.84 trillion yen in the fiscal year ended March, a record high since its relisting in 2012, boosted by robust demand from domestic and international travelers.
The company said it remains vigilant over the possible effect of U.S. President Donald Trump's tariffs policy on travel and cargo demand, saying the latest earnings results have not reflected the impact of the "extremely uncertain" and fluctuating Trump policies.
CEO Mitsuko Tottori told a press briefing that the latest result gave her "confidence" to pursue further growth as it reflected continued support by customers despite incidents of pilots drinking alcohol that prompted a business improvement order from the transport ministry.
Tottori said she hopes that the World Exposition in Osaka, running for six months from mid-April, will further boost inbound travelers, not only to the western Japan city but also to other regions in Japan using domestic airline services.
JAL's net profit for fiscal 2024 grew 12.0 percent to 107.04 billion yen. The number of domestic passengers increased 2.9 percent to 36.13 million, and international travelers rose 14.4 percent to 7.58 million.
The figures picked up from fall and winter seasons after some people likely avoided traveling during the hot Japanese summer, the company said.
For the current fiscal year that began in April, the company expects its net profit to rise 7.4 percent to 115 billion yen on sales of 1.98 trillion yen, up 7.2 percent.
© KYODO
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Japan Times
35 minutes ago
- Japan Times
NATO's Trump flattery buys time but dodges tough questions
Lavishing praise, playing the royal card and copying his slogans — NATO pulled out all the stops to keep U.S. President Donald Trump happy and hold the alliance together at a summit in The Hague. The plan came off, although it largely avoided tough topics of vital importance to NATO such as the war in Ukraine, Russia strategy and a likely drawdown of U.S. troops in Europe. Sooner or later, NATO will have to deal with them, too. As NATO boss Mark Rutte had planned, the main summit outcomes were a vow by the allies to heed Trump's call to spend 5% of GDP on defense — a big increase on the current 2% target — and a renewed U.S. commitment to NATO's mutual defense pact. That is a far cry from a few months ago, when transatlantic ties were so tense that Friedrich Merz, now Germany's chancellor, wondered openly after his election win whether NATO would exist in its current form by the time of The Hague summit. There was nothing subtle about NATO's strategy to keep Trump on board. Rutte gushed with compliments in a message to Trump, made public by the U.S. president as he flew to The Hague. "You will achieve something NO American president in decades could get done," the former Dutch prime minister said in his message, putting some of his words in capitals like Trump. "Europe is going to pay in a BIG way, as they should, and it will be your win." Right before the summit, in another sign of chumminess with Trump, Rutte reacted to the U.S. president's comments berating Iran and Israel by saying that "daddy has to sometimes use strong language." Given Trump's threats to quit NATO in his first term and not to protect allies who failed to spend enough on defense, the stakes for NATO have been high. Most NATO members see Russia as an increasingly direct threat to their security following the 2022 invasion of Ukraine, and know they would struggle badly to defend themselves against attack without their nuclear-armed superpower ally. After the summit, Trump's previously harsh rhetoric on NATO had been replaced by something very different. "I left here saying that these people really love their countries. It's not a rip-off, and we're here to help them, protect them," he told reporters. Trump only criticized Spain for not signing up to the new defense spending target and said it would pay up another way — in its trade relations with the United States. Many European nations will find it tough economically to meet the target, but that issue was left for another day. Ukrainian President Volodymyr Zelenskyy shakes hands with Trump during their meeting on the sidelines of the NATO summit in The Hague on Wednesday. | UKRAINIAN PRESIDENTIAL PRESS SERVICE / via AFP-JIJI As part of NATO's Hague charm offensive, Trump was granted the rare honor of staying overnight at the ornate royal palace of Dutch King Willem-Alexander before the summit. The king hosted a three-course meal for leaders prepared by 20 chefs and served by 18 footmen in the baroque 17th century "Orange Hall" in the Huis ten Bosch palace. At the start of the summit, other NATO leaders lined up to praise Trump. Lithuanian President Gitanas Nauseda suggested the alliance adopt the motto "Make NATO Great Again." Rutte kept the summit short and simple, minimizing the risks of any blow-ups with Trump. Ukrainian President Volodymyr Zelenskyy had to settle for a seat at the pre-summit dinner rather than the main meeting, although he held a separate meeting with Trump after the summit. The summit's final statement ran to just five paragraphs — compared with 38 in the text from last year's leaders' meeting in Washington. It does not explicitly describe Russia's military action in Ukraine as a war or invasion, nor does it repeat or reaffirm a previous pledge that Ukraine will one day join the alliance. By focusing on reaffirming commitments to NATO and the new spending pledge, it papered over major differences between Washington and many European allies on Russia and Ukraine. To the discomfort of many Europeans, Trump has taken a more conciliatory stance with Moscow and been less supportive of Kyiv than his predecessor Joe Biden as he seeks to end the war. While such diplomatic fudges may hold NATO together for now, it will be hard for the alliance to function effectively if there is a major long-term difference between the United States and Europe on a question as fundamental as how to handle Russia. "A NATO summit that essentially ignores the war that is still raging in Ukraine should worry all of us," said Julianne Smith, who served as the U.S. ambassador to NATO under the Biden administration. Peter Bator, Slovakia's former ambassador to NATO, said "we have just missed an opportunity to send a strategic message to the ruler in the Kremlin. And it will cost us in our security." NATO officials will now be watching to see whether Trump's newfound enthusiasm for the alliance is reflected in his administration's ongoing review of U.S. military posture, as Europe relies heavily on U.S. forces for its security. European leaders say they are committed to taking on more of that responsibility, but they are anxious to ensure any transfer is done in an orderly and gradual way. "You can feel the anxiety when talking to senior European officials about this," said Oana Lungescu, distinguished fellow at RUSI and former NATO spokesperson. "Most expect the Pentagon to start pulling out some troops and capabilities, but nobody knows how many and how soon."
Japan Today
4 hours ago
- Japan Today
Tesla sales skid in Europe in May despite EV rebound
The drop in demand for Tesla cars has been linked to its ageing fleet, competition, and consumer distaste for owner Elon Musk's (L) work in the Donald Trump (R) administration Tesla sales sank again in Europe last month as rising competition and Elon Musk's ties to U.S. President Donald Trump cut into demand despite a growing electric car market, industry figures showed on Wednesday. Sales of battery-electric vehicles jumped by 25 percent in Europe in May compared to the same month last year, according to the ACEA, the trade association of European car manufacturers. Tesla, meanwhile, sold 40.2 percent fewer cars in May. The drop in demand for Tesla cars has been linked to its aging fleet, competition from European and Chinese rivals, and consumer distaste for Musk's work in the Trump administration. Musk left his role as the U.S. government's cost-cutter at the end of May and had a public falling-out with Trump earlier this month over the U.S. president's spending bill. During the first five months of 2025, Tesla sales fell 45.2 percent from the same period last year. The U.S. company's market share of Europe's total automobile market has fallen to 1.1 percent from two percent last year. Tesla's slump comes as EV sales in Europe rebounded by 26.1 percent in the first five months of the year. Battery-electric cars accounted for 15.4 percent of all cars sold in May, up from 12.1 percent in the same month last year. The EV market share is "still far from where it needs and was expected to be", said ACEA chief Sigrid de Vries. The EU aims to end sales of new internal combustion engine cars in 2035, but high prices and a perceived lack of charging infrastructure have given consumers pause. "Consumer reluctance is by no means a myth, and we need to incentivise a supportive ecosystem -- from charging infrastructure to fiscal incentives -- to ensure the uptake of battery-electric models can meaningfully accelerate," added de Vries. Overall, car sales rose by 1.6 percent in Europe last month, but were down by 0.6 percent in the first five months of the year. © 2025 AFP
Japan Today
4 hours ago
- Japan Today
NATO leaders agree to hike military spending and restate 'ironclad commitment' to collective defense
CORRECTS SPELLING TO HAGUE NOT HAUGE U.S. President Donald Trump arrives to be officially greeted by NATO Secretary General Mark Rutte and Netherland's Prime Minister Dick Schoof at the NATO Summit in The Hague, Netherlands on Wednesday, June 25, 2025. (Sean Kilpatrick/The Canadian Press via AP) By MIKE CORDER, SYLVIE CORBET, MOLLY QUELL and LORNE COOK NATO leaders agreed on Wednesday on a massive hike in defense spending after pressure from U.S. President Donald Trump, and expressed their 'ironclad commitment' to come to each other's aid if attacked. The 32 leaders endorsed a final summit statement saying: 'Allies commit to invest 5% of GDP annually on core defense requirements as well as defense- and security-related spending by 2035 to ensure our individual and collective obligations.' Spain had already officially announced that it cannot meet the target, and others have voiced reservations, but the investment pledge includes a review of spending in 2029 — after the next U.S. presidential elections — to monitor progress and reassess the security threat posed by Russia. The leaders also underlined their 'ironclad commitment' to NATO's collective security guarantee – 'that an attack on one is an attack on all.' Ahead of the summit, Trump had again raised doubts over whether the United States would defend its allies. The show of unity vindicated NATO Secretary-General Mark Rutte's billing of the summit as 'transformational,' even though it papered over divisions. "Together, allies have laid the foundations for a stronger, fairer and more lethal NATO,' Rutte told reporters after chairing the meeting in The Hague. 'This will fuel a quantum leap in our collective defense.' The spending hike requires each countries to spend billions of dollars. It comes as the United States — NATO's biggest-spending member — shifts its attention away from Europe to focus on security priorities elsewhere, notably in the Middle East and Indo-Pacific. But ahead of the meeting, Spain announced that it would not be able to reach the target by the new 2035 deadline, calling it 'unreasonable.' Belgium signaled that it would not get there either, and Slovakia said it reserves the right to decide its own defense spending. Prime Minister Pedro Sánchez stood conspicuously aside from other leaders in the summit family photo. Many European countries face major economic challenges, and Trump's global tariff war could make it even harder for America's allies to reach their targets. Some countries are already squeezing welfare and foreign aid spending to channel extra funds into their military budgets. On Tuesday, Trump complained that 'there's a problem with Spain. Spain is not agreeing, which is very unfair to the rest of them, frankly.' He has also criticized Canada as 'a low payer.' In 2018, a NATO summit during Trump's first term unraveled due to a dispute over defense spending. Other countries closer to the borders of Russia and Ukraine — Poland, the three Baltic states and Nordic countries — have committed to the 5% goal, as have NATO's European heavyweights Britain, France, Germany and the Netherlands. In their statement, the leaders said they were united 'in the face of profound security threats and challenges, in particular the long-term threat posed by Russia.' It had been feared that Trump would would object to that assessment, which European governments need to justify higher spending. Trump has been reluctant to support Ukraine in its war against Russia's full-scale invasion. 'We stand by Ukraine in its pursuit of peace and will continue to support Ukraine on its irreversible path to NATO membership,' Rutte said. The Trump administration has vetoed Ukraine's bid to join NATO for the foreseeable future. Finnish President Alexander Stubb said the agreement "is a big win, I think, for both President Trump and I think it's also a big win for Europe.' He told reporters that 'we're witnessing the birth of a new NATO, which means a more balanced NATO.' He said it would take nations 'back to the defense expenditure levels of the Cold War.' NATO countries started to cut their military budgets in safer times after the Berlin Wall collapsed in 1989. UK Prime Minister Keir Starmer threw his weight behind the hike, declaring, ''This is the moment to unite, for Europe to make fundamental shift in its posture and for NATO to meet this challenge head-on.' In a fresh take on Trump's MAGA movement, Lithuanian President Gitanas Nausėda said: 'We should choose a motto, 'make NATO great again.'' After Russia's full-scale invasion of Ukraine in 2022, the NATO allies agreed to make 2% of GDP the minimum spending level. Last year, 22 countries were expected to hit that target, up from just three a decade ago. In The Hague, the allies endorsed a major revamp of their spending targets. They upped the ante for what NATO calls 'core defense spending' to 3.5%, while changing how it's counted to include providing military support to Ukraine. To hit Trump's 5% demand, the deal set a second target of 1.5% of GDP for a broader range of defense-related spending, such as improving roads, bridges, ports and airfields so that armies can deploy more quickly, countering cyber and hybrid attack measures, or preparing societies to deal with future conflicts. 'This declaration is historic. We are 32 allies supporting that ambition, which is huge,' said Norwegian Prime Minister Jonas Gahr Støre. 'We have been struggling to get above 2% and now we said 3.5%, which is necessary in order to reach our capabilities.' Extra funds will also be needed should the Trump administration announce a draw-down of forces in Europe, where around 84,000 U.S. troops are based, leaving European allies to plug any security gaps. The Pentagon is expected to announce its intentions in coming months. Asked why Trump has suggested that the new spending target should not apply to the United States, Rutte said: 'The U.S. is more or less there,' in terms of the 5% benchmark. Beyond Trump's demands, European allies and Canada have steeply ramped up defense spending out of concern about the threated posed by Russia. Several countries are concerned that Russia could carry out an attack on NATO territory by the end of the decade. Hungary is not one of them, though. 'I think Russia is not strong enough to represent a real threat to us. We are far stronger,' said Hungarian Prime Minister Viktor Orbán, fielding questions from reporters, leaning back with his hands thrust into his pockets. Orbán is considered Russian President Vladimir Putin's closest ally in Europe. ——— Jill Lawless in London contributed to this report. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
