Opportunities and Challenges for Japan Airlines December 6

Opportunities and Challenges for Japan Airlines December 6 - 7, 2012

Agenda 1. JAL Update 2. Product Update 3. Summary 4. Appendix 2

Japan Airlines: A Quick Introduction • Japan Airlines (JAL) flies to more than 85 destinations in almost 20 countries and territories. The airline has provided international service between the U. S. and Japan for over 58 years. • JAL is a key travel partner with numerous International companies including many Fortune 500 companies. The airline currently holds agreements with 65 of the top 100 Corporate Travelers by air volume* • Posted net profit of US $2. 4 Billion for 2011 Fiscal year (Apr ’ 11 – Mar ’ 12) US $1. 2 Billion for 1 st half 2012 (Apr ’ 12 – Sep ’ 12) • Facilitates global trade by operating 22, 000+ flights a month, and has been expanding its International Network with San Diego, Boston, & Helsinki. * Booked in the USA as ranked by Business Travel News – September 2011 edition 3

Updates for 2012 • FH 12 net profit was 1. 2 bil USD (Apr – Sep 2012) • Re-listing of shares in Sep 2012 • More competitive cost structure, best practices • #1 airline in world operating profit for 2010, 2011 4

787 Updates for JAL Schedules • BOS-NRT service commenced Apr. 22 • SIN-NRT from Oct. 28, 2012 • SAN-NRT service from Dec. 2, 2012 • HEL service from Feb. 25, 2013 (scheduled) • Also MOW, BJS in 2012 • 1 st carrier to utilize 787 in USA • JAL has 65 787’s on order (45) option (20) 5

Government Challenges • Visa entry requirements • Security issues • High aviation taxes and fees • Lack of recognizing the value of foreigner visitors 6

Specific Airline Challenges in the Future • Rising fuel costs and the vision for an alternative • Added competition from airlines and growing alliance networks • Low cost carrier growth worldwide • More government regulation and taxes • Joint business and alliance evolution--how will business be done 7

Boston = Tokyo Nonstop New Route Summary San Diego = Tokyo Nonstop Launched: December 2, 2012 From March 1, 2013, JAL will increase the frequency to once daily. *All flights operated by Japan Airlines; codeshare by American Airlines. *All flights/schedules are subject to change. Joint business route with 8

JAL’s Tokyo Narita Hub: San Diego’s Gateway to Asia Same Day Connectivity at Narita to: Beijing Seoul Taipei Manila Singapore Hanoi Shanghai Pusan Kaohsiung Bangkok Hong Kong Ho Chi Minh City* Overnight Stay in Tokyo Required for: Strong Japan Domestic Connectivity too: Okinawa, Osaka (Itami), Fukuoka, Sapporo, & Nagoya More connections via Tokyo Haneda Airport Guangzhou Jakarta New Delhi Dalian Kuala Lumpur All Schedules Subject to Change * Codeshare Flight. JL operated Flight requires overnight stay 9

JAL Summary • Financial reorganization successful • Post-earthquake recovery strong • JL/AA joint business evolving very well • 787 introduction on Apr. 22, 2012 BOS-NRT • New SAN-NRT Dec. 2, 2012 • Well positioned for future 10

Q Appendix Additional Information About JAL http: //www. ar. jal. com/arl/en/

• Seat Name: JAL SUITE • Configuration: 1 -2 -1 (8 seats) • Bed length: Approx. 78. 5 inch (199 cm) • Max. Bed width: Approx. 33 inch (84 cm) • TV screen size: 23 inch Features • Excellent functionality with a sense of luxury in one of the largest First Class spaces available in the skies today. • Refined woodgrain finishing that evokes an ambience similar to that of a personal study or bedroom. • Newly-introduced liquid-crystal (LCD) touch-panel hand-held controller. 13 Sample meals

• Seat Name: JAL SKY SUITE • Configuration: 2 -3 -2 (49 seats) • Max. Bed length: Approx. 74 inch (188 cm) • Max. Bed width: Approx. 25. 5 inch (65 cm) • Width at base: Approx. 21 inch (53 cm) • TV screen size: 23 inch Features • A highly-private space with plenty of legroom, furnished with a fully flat bed and a host of first-class amenities and functionalities. • Unobstructed aisle access for every seat. • Large swivel table for more flexibility in movement and ample storage space for various items. • Partition can be electronically lowered to chat with traveling companion if you wish. Sample meals

• • • Seat Name: Configuration: Seat pitch: Seat width: TV screen size: JAL SKY PREMIUM 2 -4 -2 (40 seats) Approx. 42 inch (107 cm)* Approx. 19 inch (48 cm)* 12. 1 inch Features • A substantial increase in seat pitch (distance between the seats) by as much as 4 inch (10 cm), providing more leg-space than ever before. • Increased seat-slide by up to approx. 2. 8 inch (7 cm) • 12. 1 inch personal touch-panel TV screens are 35% wider than previous Premium Economy product and one of the widest in its class. • Retained the fixed-back seat feature of its predecessor, providing the same undisturbed space even when a passenger seated in front reclines. • Center divider between seats at head-level to provide greater privacy. • Three-step adjustable footrest. *Specifications for front-row seats are different.

JAL’s 787 – Executive Class Experience the Ultimate in Japanese Hospitality Designs are subject to change http: //www. jal. co. jp/jal_panorama/787_kinai/

JAL’s International Network Boeing 787: Future service introduction status - Tokyo (Narita) – Singapore, JL 719/712, JL 711/710 14 services a week will operate from Narita from the 28 th of October, and departing Singapore from the 29 th of October. Helsinki Boston San Diego Schedule and aircraft types are subject to change without notice.

Q Haneda Map 1. Domestic Connectivity 2. Travel Opportunity Cost Savings

First Class and Sakura Lounges Narita Airport – Terminal 2 Lounges offer 4, 000 square meters of space • • Menus will be adjusted to reflect the changing flavors of the seasons • Stylish bar-areas include a bartender to serve a wide selection of drinks • Private shower rooms Massages by a resident professional masseuse (advanced reservations required) • Equipped with high-speed wireless LAN connection for Internet access • • Features a Children`s Playroom for families

Pacific Joint Business with AA • JL and AA Partners across the Pacific • More options for the customer • Harmonized pricing and discounts • Joint contracting • Earn AAdvantage miles on JL flights • SAN-NRT flight complies with “Fly America” rules if ticketed on AA

Thank You for Your Partnership!