Kansai Airports: FY2023 Consolidated Financial Results Revenue and profit increased due to the recovery of air traffic and the opening of commercial area, Turning profitable for the first time in four terms.

2024-06-13

Kansai Airports today announced its consolidated financial results for the fiscal year ended March 31, 2024, posting operating revenues of 186.8 billion yen, operating profit of 34.0 billion yen, ordinary profit of 23.2 billion yen and net profit of 15.5 billion yen.

In the fiscal year under review, operating revenues increased by 87%, operating income increased by 48.8 billion yen, ordinary income increased by 48.9 billion yen, and net income increased by 34.5 billion yen due to a further recovery in air traffic and the construction of new commercial area of Kansai International Airport Terminal 1 building.

Aviation Traffic
Compared to the previous fiscal year, there has been a significant recovery in air traffic, with a total of 342 thousand aircraft movements across the three airports (an increase of 22% from the previous year) and 44.13 million air passengers (a 60% increase from the previous year).

For international flights, since the end of the border measures in April 2023, there has been a remarkable increase in both aircraft movements and passenger numbers, driven by strong inbound demand. Additionally, for domestic flights, the total aircraft movements across the three airports reached the second-highest record, following the highest record of the previous fiscal year. Although the number of international cargo flights was lower than the previous year, it still maintained a high level, 143% compared to 2019.

Consolidated Balance Sheet
As of March 31 2024, total assets were 1,585.3 billion yen as a result of depreciation in operating rights compared to the end of the previous fiscal year. In addition, due to repayment of short term loan, total liabilities were 1,542.5 billion yen.