AirTrip Corp. (TSE Prime: 6191) told investors on September 10, 2026 that its year-end dividend for the year to September 2026 will jump to ¥160 a share, up from ¥10 the previous year, and unveiled a three-year plan to return more than ¥10bn to shareholders through the year to September 2028.
The increase rides on an upgraded earnings outlook. AirTrip raised its post-impairment operating profit forecast to ¥3.0bn from ¥1.5bn in May, lifted pre-tax profit guidance to ¥2.79bn, and now expects net profit attributable to owners of ¥1.95bn, more than three times the ¥600mn it projected in its May 2026 guidance revision. Earnings-per-share guidance rose to ¥88.22 from ¥26.34, and revenue guidance is unchanged at ¥34.0bn. For context, in the year to September 2025 AirTrip posted revenue of ¥28.1bn, post-impairment operating profit of ¥3.10bn, and net profit of ¥1.78bn. The company attributes the upgrade to strength in its non-travel segments, inbound tourism, IT development and its corporate-venture arm, even as its core travel business faces slower growth and tougher competition.
Alongside the revised numbers, AirTrip introduced a new headline metric: operating profit before impairment charges, which it now treats as its most important financial figure. That measure is forecast at ¥4.53bn for the year to September 2026, against a target of ¥5.0bn by the year to September 2028 and ¥10.0bn beyond that.
The dividend policy runs on a strict formula: 100% of after-tax operating profit before impairment, paid out annually across the three years to September 2028. Under that formula, the payout ratio against after-tax operating profit before impairment rises from 8.9% in the year to September 2024 and 6.9% in the year to September 2025 to 100.0% in the year to September 2026. Measured against net profit attributable to owners, the ratio jumps to 162.0%.
| Metric | Year to Sept 2024 | Year to Sept 2025 | Year to Sept 2026 (plan) |
|---|---|---|---|
| Operating profit before impairment charges | ¥3.58bn | ¥4.66bn | ¥4.53bn |
| After-tax equivalent (operating profit × 70%) | ¥2.51bn | ¥3.26bn | ¥3.17bn |
| Year-end dividend per share | ¥10 | ¥10 | ¥160 |
| Payout ratio vs. after-tax operating profit | 8.9% | 6.9% | 100.0% |
| Payout ratio vs. net profit attributable to owners | 11.1% | 12.6% | 162.0% |
AirTrip has already bought back roughly ¥2.42bn of its own shares this fiscal year, which it calls the first step of the expanded returns, and plans to add an interim dividend in the years to September 2027 and September 2028, moving to two payouts a year.
The generosity has an expiry date. From the year to September 2029, AirTrip plans to cut the dividend back to ¥10 a share as it shifts into what it describes as an investment phase. The three-year, ¥10bn-plus payout window is tied to the company's 10th anniversary as a listed company, not a new permanent policy.