Table of Contents
Executive Summary .................................................................3
Glossary....................................................................................9
Outlook for International Routes and Airlines’ Strategies..11
Outlook for Domestic Routes and Airlines’ Strategies .......25
Outlook for Cargo Operations and Airlines’ Strategies ......35
Profitability Analysis ..............................................................39
Financial Analysis ..................................................................49
Share Price Analysis ..............................................................53
Individual Companies ............................................................65
All Nippon Airways (9202) .....................................................67
Japan Airlines (9205)..............................................................79