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All Nippon Airways posts US$1.1 billion annual loss, forecasts return to profit
April 29th 2022
ANA HOLDINGS INC, the parent company of All Nippon Airways (ANA), has forecast a return to profit, after two consecutive annual losses, due to improving market conditions and the gradual reopening of international travel. Read More » The company recorded a net loss of 143.6 billion yen (US$1.1 billion) for the 12 months to March 31, an improvement from a net loss of 404.6 billion yen in the year-ago period. Revenue rose 40%, to 1.02 trillion yen, ANA told the Tokyo Stock Exchange. "While the airline industry continues to face difficulties from the enduring effects of COVID-19, passenger demand is recovering, especially on domestic flights. There also are signs of recovery in demand for international flights as entry restrictions are gradually eased," ANA said. The company expects to record a net profit of 21 billion yen for the 12 months to March 31, 2023 and predicts its revenue will increase 62.7%, to 1.66 trillion yen, in the 2022-2023 fiscal year.
