ANA records first six-month profit in three years

Japanese airline group ANA recorded a half year profit for the first time in three years amid recovery from Covid travel curbs.

The company cited a rapid recovery in overall passenger demand, with travel restrictions eased on domestic and international flights across various countries.

A net profit of 19.5 billion yet (£113 million) was achieved in the six months to September 30 – the first time in three years that ANA has recorded a net profit in the first half of the fiscal year.

The improvement came against a backdrop of a recovering Japanese economy, with corporate earnings generally improving and personal consumption gradually picking up. 

The number of international passengers increased 5.1 times year-on-year, and revenue rose 5.3 times, behind growing connection demand between Asia and North America, as well as recovering business demand originating from Japan and homecoming expatriates. 

This was a result from eased entry restrictions in various countries including Japan which updated its entry policies in September.

However, operations to Europe and China remain limited due to the Ukraine-Russia conflict and continued border restrictions for the Chinese mainland.

Chief financial officer Kimihiro Nakahori said: “The positive results of the first half of the fiscal year demonstrate the progress we have made since the pandemic began and the determination and effort of our employees to help put the ANA Group in a favourable financial and operational position. 

“The perseverance and dedication of our employees is propelling ANA Group to overcome the challenging times and we look forward to seeing the continued increase as customers once again visit Japan.”

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