ANA Holdings logs ¥143.6 billion net loss in FY2021
14:21 JST, April 29, 2022
TOKYO (Jiji Press) — ANA Holdings Inc. Thursday reported a group net loss of ¥143,628 million in fiscal 2021, citing low passenger demand amid the prolonged COVID-19 pandemic.
But the size of loss shrank from ¥404,624 million a year before thanks to the solid performance of international cargo operations and cost-cutting efforts.
Revenue at the airline group, including All Nippon Airways, totaled ¥1,020,324 million in the year that ended in March, up 40% from the previous year. Operating loss fell to ¥173,127 million from ¥464,774 million.
Revenue from international cargo operations doubled from the previous year to hit a record high of ¥328.7 billion, reflecting brisk demand for transportation of semiconductors.
ANA Holdings’ hopes for an earnings recovery, however, was hampered by stagnant passenger revenue following COVID-19 infection waves. Revenue from domestic flight operations was 40% of the level marked in fiscal 2019, before the spread of the novel coronavirus, and 10% of the fiscal 2019 level for international flight revenue.
Demand for domestic flights is recovering recently following the full lifting of the government’s COVID-19 pre-emergency measures in late March.
ANA Holdings expects that the average number of passengers for fiscal 2022 to recover to 80% of the level before the pandemic for domestic flights and 35% for international flights.
For the current year, the company projects a net profit of ¥21 billion, which would be its first black figure in three years.
“We’ll strive with determination to completely capture the recovering travel demand,” President Koji Shibata told a press conference.
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