News Column

ANA returns to black in April-June for 1st time in 2 yrs

July 29, 2014

ANA Holdings Inc. said Wednesday it returned to the black in the April to June period for the first time in two years due to an expansion in its international flight business.

In the three-month period, the company posted a group net profit of 3.49 billion yen, against a year-earlier loss of 6.64 billion yen.

The parent of All Nippon Airways Co. logged a consolidated operating profit of 347 million yen, compared with a year-earlier loss of 5.61 billion yen on revenue of 386.83 billion yen, up 10.0 percent from a year earlier.

For the full business year through March, ANA maintained its group net profit projection of 35 billion yen, up 85.3 percent from a year earlier.

Its operating profit is expected to rise 28.8 percent on year to 85 billion yen on revenue of 1.70 trillion yen, up 6.2 percent.

The company also announced a cancellation of its plan to invest $25 million in Myanmar-based airline Asian Wings Airways Ltd. and acquire a 49 percent stake, as intensified competition in the country cast a pall over AWA's earnings outlook.

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Source: Japan Economic Newswire

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