Japan Airlines' quarterly net profit down 32%
AFP
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Japanese carrier Japan Airlines said Wednesday its first-quarter net profit dropped 32.1 percent due to growing fuel costs.

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An Airbus A350 plane arrives at Tokyo's Haneda airport on June 14, 2019, from France. (File photo: VCG)

Bottom-line profit fell to 11.9 billion yen ($110 million) for the April-June period from 17.5 billion yen a year earlier, but sales rose 4.0 percent to 355.7 billion yen.

Fuel costs were growing as tensions mount between the US and Iran, JAL said in a statement, adding that the company outlook was "uncertain".

The firm left their full-year forecast in place, projecting net profit at 114 billion yen for the fiscal year to March on sales of 1.56 trillion yen.

On Tuesday, ANA Holdings said its first quarter net profit fell by almost 30 percent on rising costs and a higher tax burden, despite increased sales.

ANA also kept its annual forecasts.