J-WING TRAVEL WEEKLY

Japan's Leading tourism news

May 29, 2006

*WDPR Chairman talks about the next fifty years for Disneyland

Walt Disney Parks and Resorts Chairman Jay Rasulo said at an exclusive interview with the Wing Travel Weekly at POWWOW 2006 in Orlando, FL thatthe world-leading entertainment company will make further efforts to extend the Disney entertainments to the world for the next fifty years and also to attract more Japanese visitors to Disneyland Resort in Anaheim and Disney World in Orlando in cooperation with touroperators of Japan, airlines or media.

This Week Headline
*WDPR Chairman talks about the next fifty years for Disneyland
+Marketing messages should be coordinated into one voice
+"Fly & Drive" is attractive to travelers who personalize their vacations
*ANA will begin serving Narita-Chicago flights probably in the winter schedule
*JAL will serve direct charters for Slovakia for the first time
*Macau is targeting Japanese who are looking for real things
*Charter flights from Taiwan to Hokuriku dramatically increased in 2005
*Saudi Arabian Airlines may fly into Kansai this summer
*JAL and ANA will serve special flights to Germany for World Cup
*JAL air transport result for March 2006
*Suffering high fuel cost and flightsuspensions, SKY resulted in net loss for FY2005

May 22, 2006

*Colorado is making efforts to attract direct flights between Denver and Japan

Sue Baldwin, Colorado Ski Country USA vice president of business development, and Ms.Christina Cassotis, Denver International Airport, on behalf of four tourism organizations of Colorado State, recently visitedJapan to announce that the organizations will collectively start tourism promotion activities in Japan to attract direct flights between Denver and Japan a few years later. Baldwin revealed that they continue discussing with ANA or United Airlines for the future direct flight service. This visit to Japan is the beginning to exploit the Japanese market, she added.

This Week Headline
*Colorado is making efforts to attract direct flights between Denver and Japan
*GVB focuses its targets on wedding, group and senior markets
*Japan and Korea sign a joint statement for expansion of tourism exchanges
*Narita marked large increase of profit despite reduction of revenue
+The new South Wing is expected to give a positive financial impact to NAA
*Kansai succeeded in increasing revenue with more flight operations
*Kansai resulted in 2% increase of passengers in April
*CAL will serve scheduled flights to Hokkaido for the first time
*Next JAL CEO said JAL has no plan to buy A380 so far
*JAL to extend its cargo transportation network to Southern America
*JAA increased both revenue and profit for FY2005

May 15, 2006

*JAL fell into the large red due to operational problems and higher fuel cost

JAL released the financial result for FY2005 (April 1 2005 to March 31 2006)on May 10, reporting that it posted net loss of 47.2 billion yen, largely dropping from net profit of 30 billion yen for FY2004. Although JAL increased revenue by 3.3% to 2,199 billion yen for FY2005, it fell into operating loss of 26.8 billion yen for FY2005 from operating profit of 56.1 billion yen for FY2004 mainly because it had suffered from fuel cost of additional 88.2 billion yen through the fiscal year. At the same time, it posted ordinary loss of 41.6 billion yen for FY2005, largely reducing from ordinary profit of 69.8 billion yen. As a result, JAL does not pay dividend at all.

This Week Headline
*JAL fell into the large red due to operational problems and higher fuel cost
*Japanese visitors to the mainland U.S. resulted in just 0.3% increase in 2005
*Fifty major travel agents resulted in 2.0% increase of travel transactions for FY2005
*JTB slightly decreased overseas travel transactions for FY2005
*Haneda-Gimpo charters carried 70% more passengers for FY2005
*JAL and ANA carried more passengers during this GW than a year ago
*Star Flyer achieved load factor of 67.8% during the GW period
*Narita handled the most passengers during this GW in its history
*Narita will start renewing the 2nd PTB as well

May 8, 2006

*ANA achieved the best financial result ever for FY2005

ANA released the consolidated financial result for FY2005 (April 1 2005 to March 31 2006) on April 28 this year, reporting that it achieved thehighest-ever revenue, operating profit and recurring profit for allbusiness segments. Revenue for FY2005 was up 5.9% to 1,368.7 billion yen, compared to FY2004, which were broken down into 685 billion yen from the domestic flight business (up 3.9%), 229.2 billion yenfrom the international flight business (up 8.7%) and 85 billion yenfrom the cargo business (up 6.7%). ANA achieved the most revenues in each of the business segments in its history.

This Week Headline
*ANA achieved the best financial result ever for FY2005
*JATA launches a special conference for Japan-China tourism exchanges
*TIA will renew "SeeAmerica.jp"to encourage consumers to visit the U.S.
*Keikyu and KNT form capital tie-up to seek synergetic effects
*KNT to offer 140 charter flight tours for overseas destinations this summer
*More direct charters for Central and Eastern Europe this summer
*JAL and ANA to change fuel surcharges on their China flights
*Kansai expects to increase revenue after the 2nd phase project completes
*Kansai resulted in 7% increase of passengers for FY2005
*Narita resulted in 1% reduction of passengers for FY2005
*Annual domestic passengers marked the first increase since FY2002