Profits up at All Nippon Airways

Profits up at All Nippon Airways

All Nippon Airways (ANA) has reported a sharp increase in profits for the July-September quarter as a surge in international passenger traffic boosts demand.

The airline – the largest in Asia in terms of sales - posted a net profit of ¥18.5 billion ($229 million) in the second quarter of its fiscal year, compared with ¥3.8 billion in the same period a year earlier.

Figures were boost by a 36 per cent rise in international passenger revenue, while overall sales rose 8.9 per cent to ¥372.2 billion from ¥341.9 billion in the same period the year prior.

Figures for 2009 were adversely affected by the global recession and the H1N1 influenza crisis.

Tight cost controls helped operating profit quadruple to ¥53.8 billion from ¥14.1 billion yen.

ADVERTISEMENT

Forecast

For the fiscal year through March, ANA says it now expects a net profit of ¥6 billion, marginally higher than the ¥5 billion it previously expected.

This is inclusive of an extraordinary loss of approximately ¥14.1 billion, which includes the transfer of provisions linked to anti-trust cases.

ANA is the launch customer for Boeing much-delayed 787 next-generation jet, designed to operate in a more fuel-efficient and environment-friendly way.