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.
"Business" POPULAR ARTICLE
-
Japan, U.S., Philippines to Strengthen Nickel Supply Chains; Reduce Reliance on China for Critical Minerals
-
Shinkansen to Have Private Rooms by FY 2026, JR Tokai Announces
-
Ride-Sharing Services Start in Tokyo; Kanagawa, Aichi, Kyoto, Others To Follow Suit
-
Survey: 80% Worried About Recognizing AI as Patent Inventor; Respondents Fear Increase in Unverified Inventions
-
Japan’s Docomo To Sell Contactless Smart Rings; Users Can Make Payments at the Wave of a Hand
JN ACCESS RANKING
- M6.0 Earthquake Hits Japan’s Tohoku Region; Fukushima, Iwate, Miyagi Prefectures Observe 4 on Japanese Scale With No Risk of Tsunami
- Cherry Blossoms Draw Crowd to Tokyo’s Ueno Park; Viewing Season Kicks Off to Slow Start
- China Mutes Memorialization of Reformer Hu Yaobang; Memories Could Spark Critique of Xi Administration
- Shinkansen Services Suspended After Man ‘Searches for Phone’ on Tracks; Disruption Affects About 14,000 Passengers
- Whaling Mother Ship Built in Japan for 1st Time in 73 Years