Arab Today, arab today japan carrier ana quarterly profit more than doubles
Last Updated : GMT 12:48:35
Arab Today, arab today
Arab Today, arab today

Japan carrier ANA quarterly profit more than doubles

Arab Today, arab today

Arab Today, arab today Japan carrier ANA quarterly profit more than doubles

Japanese carrier ANA
Tokyo - AFP

Japanese carrier ANA said Wednesday its net profit more than doubled to $68 million for the April-June quarter thanks to strong results in its international business on the back of a weak yen.

ANA Holdings, the parent company of All Nippon Airways, reported the soaring profit after an expansion at Haneda airport in downtown Tokyo allowed it to run more overseas routes and fuel costs dropped owing to a decline in crude oil prices.

The company said its logged a group net profit of 8.4 billion yen for the first quarter of the fiscal year to March 2016, up from 3.5 billion yen a year earlier.

Operating profit soared to 16.7 billion yen from 347 million yen during the same period last year, with revenue up 7.0 percent at 413.9 billion yen.

ANA left its full-year forecast unchanged, still expecting net profit of 52 billion yen on revenue of 1.79 trillion yen.

"International passenger numbers and revenues both increased due to steady business demand and growing numbers of in-bound travellers to Japan," the company said in a statement.

Domestic passenger revenue rose 2.7 percent to 152.3 billion yen while international passenger income jumped 9.2 percent to 119.3 billion yen, ANA said.

"The Japanese aviation sector is enjoying strong demand for business use on the back of the nation's economic recovery," said Hiroshi Hasegawa, analyst at SMBC Nikko Securities in Tokyo.

"A weak yen has helped boost the number of foreign tourists coming to Japan, especially from Asian countries," he told AFP.

ANA has been in a spat with its rival and one-time flag-carrier Japan Airlines over the allocation of landing slots at Haneda, after JAL emerged from one of the nation's biggest-ever bankruptcies following a government rescue.

"ANA has continued to benefit from an expansion of international slots at Haneda," Hasegawa said.

ANA recently said it was throwing a lifeline to bankrupt domestic rival Skymark Airlines, Japan's third-biggest airline, which flies on domestic routes.

Skymark filed for bankruptcy protection in late January in the face of potentially massive penalties linked to a cancelled $2.2 billion jet order with Airbus.

The Skymark deal would expand ANA's landing slots and give it the upper hand in setting airfares.

Earlier this month, US carrier Delta Air Lines joined a rival bid to rescue Skymark, whose creditors will vote on the competing proposals next month.

If the Delta deal is successful, it would be the first foreign airline to get access to slots for domestic flights at Haneda.

Japan Airlines is scheduled to release its first-quarter results on Thursday.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan carrier ana quarterly profit more than doubles Arab Today, arab today japan carrier ana quarterly profit more than doubles

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan carrier ana quarterly profit more than doubles Arab Today, arab today japan carrier ana quarterly profit more than doubles

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday