ANA, JAL Log 1st April-Dec. Net Profits in 3 Yrs
11:40 JST, February 3, 2023
Tokyo — Japan’s two major air carriers Thursday reported their first April-December group net profits in three years.
Demand from visitors to Japan started recovering after the Japanese government drastically eased coronavirus border controls in October last year, the airlines said.
Net profit at ANA Holdings Inc. , the parent of All Nippon Airways, in the first nine months of fiscal 2022 stood at ¥62,601 million, against a net loss of ¥102,804 million a year earlier.
Japan Airlines reported ¥16,313 million in net profit, against a net loss of ¥128,322 million.
Sales soared 70.5 pct to ¥1,258,655 million at ANA Holdings and 101.7 pct to ¥1,005,590 million at JAL.
In view of the faster-than-expected pace of recovery in inbound travel demand, ANA Holdings raised its group sales forecast from ¥1.7 trillion to ¥1.71 trillion and net profit projection from ¥40 billion to ¥60 billion for the current year.
“North American and Asian routes are drawing particularly high inbound demand,” Kimihiro Nakahori, ANA Holdings executive vice president, told a press conference.
On the other hand, JAL lowered its full-year net profit estimate from ¥45 billion to ¥25 billion, saying domestic flight demand in January-February would be weaker than initially expected.
The two carriers’ earnings are only halfway to returning to pre-pandemic levels, pundits pointed out.
"BUSINESS" POPULAR ARTICLE
Exports of Nishikigoi Carp to China Halted; Permits for Japanese Aquaculture Facilities By China Have Expired
Japan’s Economy Contracts as Demand Wanes
BOJ Member Sought Tweak in Easing
Japan Railway Operators Eye Net-zero CO2 Emissions Via Hydrogen Fuel Cell Trains
3 Japan Railway Firms to Introduce System to Pay Fare by Tapping Credit Card at Ticket Gates
JN ACCESS RANKING
- Exports of Nishikigoi Carp to China Halted; Permits for Japanese Aquaculture Facilities By China Have Expired
- Japan’s Economy Contracts as Demand Wanes
- AI-generated Child Porn Floods Japan-based Website (Update 1)
- BOJ Member Sought Tweak in Easing
- Bears Sighted in Tokyo Suburbs, Including near Mt. Takao (Update 1)