ANA, JAL see profits soar on travel recovery

TOKYO (AFP): Japan's leading air carriers ANA Holdings and Japan Airlines posted net profits for the nine months to December, turning around losses as domestic and international travel resume, the companies said Thursday (Feb 2).

ANA, the country's biggest airline, reported a net profit of 62.6 billion yen (US$486 million), reversing a 102.8 billion yen loss in the same period the year before, while its rival JAL saw a 16.3 billion yen net profit, up from a loss of 128.3 billion yen.

"Passenger demand is rapidly recovering due to the easing of restrictions related to Covid-19 for domestic flights and the easing of entry restrictions in many countries for international flights," ANA said in a statement.

They also saw steady growth in international cargo business.

ANA lifted its annual net profit forecast for the year ending March 2023 to 60 billion yen from an earlier projection of 40 billion yen, citing recovery in demand for business and tourism travel to Japan, as well as steady growth in domestic travel.

However, JAL revised down its net profit estimate to 25 billion yen from 45 billion yen, saying domestic business demand is recovering slowly and the effects of the government's support for tourism have been limited.

Both companies were hit hard by restrictions in Japan and worldwide during the pandemic.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Japan , ANA , JAL , profiits


Next In Aseanplus News

Asean news headlines as at 9pm on Thursday (March 23)
Nine more entities added to Central Bank's scam alert list
From Facebook intern to TikTok CEO: Who is Singaporean Chew Shou Zi?
TVB actor Mat Yeung writes touching tribute to girlfriend Lisa Ch'ng's late father, Malaysian tycoon Bill Ch'ng
Jail terms raised for ex-BP manager and businessman in S$5.9mil corruption case
Improved facilities at Kudat’s popular Tip of Borneo when it reopens in April
China, Philippines should properly manage differences: Beijing
Ban on civil servants hosting iftar could backfire on Jokowi: Yusril
Grab Philippines seeks 20,000 additional driver slots
Dr Wee lodges police report on Indian egg import issue

Others Also Read