All Nippon Airways Returns To Profit 

ANA Holdings, the parent company of All Nippon Airways (ANA), Japan’s largest airline, announced its results for the fiscal year ending March 2023.

The airline has posted its first operating profit in three fiscal years, totalling 120 billion Yen (about US$900 million).

Last year, the company had a nett profit of 89.4 billion Yen (about $668 million). 

The return to profitability was mainly attributable to the 67% growth in operating revenue compared to the 33% growth in related expenses.

Much of this improvement—from 885 billion to 1.53 trillion Yen (US$6.6B to US$11.45B)—can be attributed to the recovery of air transportation revenue, which had been severely impacted by the COVID-19 pandemic and the closure of Japan’s borders.

Since Japan loosened its COVID restrictions, ANA has been busy increasing the utilisation rate of its long-haul fleet and resuming service on previously suspended routes and frequencies, with Japan to North America market playing a significant role.

Peach, ANA’s low-cost subsidiary, contributed to the recovery by increasing its income by more than 100% in the last financial year.

The Japanese airline also gave optimistic forecasts for the upcoming fiscal year, predicting 1.97 trillion and 140 billion Yen (US$14.8 and US$1.04B) in sales and operating profits, respectively.