Japan's All Nippon Airways back to profit

Japan's All Nippon Airways back to profit
By admin


Japan's All Nippon Airways (ANA) said it had swung back to profitability in the three months to June, thanks to an expansion at a Tokyo airport and a change to its pension plan.

The carrier said net profit was 3.5 billion yen ($A36.79 million) against a loss of 6.6 billion yen a year earlier, while quarterly sales rose 10.0 per cent to 386.8 billion yen.

It also logged an operating profit of 347 million yen, from an operating loss of 5.6 billion a year ago.

The sharp improvement came as ANA expanded its international services, benefiting from a major expansion of Tokyo's downtown Haneda Airport, which helped offset a jump in operating expenses mainly due to higher fuel costs.

The firm also booked a 9.9 billion yen extraordinary gain as it changed the structure of its corporate pension scheme, ANA said.

The airline left unchanged its forecast for the fiscal year through March, expecting a 35 billion yen net profit, an operating profit of 85 billion yen, and 1.7 trillion yen in annual sales.

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