Originally Posted by
Random Flyer
I wish I could find a way not to see this in a negative light. I really do. But I just don't buy the explanation that a decline in the Yen has anything to do with it. It's been my observation that the Japanese carriers tend to attract more Japanese clientele and the US carriers more US clientele. If any carriers would be hit by a Yen "devaluation", it would be the Japanese carriers. The US based ones might even benefit from it. But then we have also been told that NH has recently doubled its frequency. I think this says it all.
As the yen devalues, other than fuel costs (which are priced in USD across most of the world to the best of my knowledge), the costs for JL and NH devalue as well, as most of their costs are in yen. For US carriers, they are selling in yen but paying much more of their costs in dollars, so their costs aren't devaluing at a similar rate even though revenues are. DL and UA have both blamed some of their shortfalls in revenue on the declining yen as both have more Japan service than AA does.