ANA in Japan posts fourth-quarter operating loss, reports improving outlook

A man works near an All Nippon Airways (ANA) plane parked at Haneda airport in Tokyo February 14, 2014. REUTERS/Yuya Shino

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TOKYO, April 28 (Reuters) – Japanese airline ANA Holdings (9202.T) posted an operating loss in the fourth quarter. . The 57.3 billion yen ($440 million) operating loss for the three months ended March 31, calculated by Reuters, was down from 102.4 billion yen a year earlier. The operating loss, reported by the airline last week, was its eighth in nine quarters. Read more ANA’s forecast of 50 billion yen in annual operating profit for this fiscal year was higher than the 42.3 billion yen average predicted by 12 analysts polled by Refinitiv.

“The continued focus on reducing our operating expenses along with increased domestic travel, strong freight sales and favorable conditions for international traffic growth all bode well for a better fiscal year 2022,” said the director. ANA financier Kimihiro Nakahori in a statement.

Revenues jumped 40% to 1.02 trillion yen in the past fiscal year, thanks in part to a record freight performance.

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There are encouraging signs of a post-pandemic passenger recovery in Japan, which lifted all national pandemic restrictions in late March. ANA said last week that the number of passengers booking flights for next week’s series of holidays known as “Golden Week” had increased by around 47% compared to a year ago. Still, ANA and its competitor Japan Airlines Co Ltd (JAL) (9201.T) are facing uncertainties related to prolonged restrictions at Japan’s international borders and rising fuel prices exacerbated by war in Ukraine.

Prime Minister Fumio Kishida has repeatedly decided not to open the country’s borders to foreign tourists, lifting pandemic-related bans only for students and business travelers. The tourism ban may not be lifted until Japan’s July elections, analysts say.

($1 = 130.0600 yen)

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Reporting by Satoshi Sugiyama, editing by Jamie Freed

Our standards: The Thomson Reuters Trust Principles.

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