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Japan’s ANA reports net profit of $165 mn

Japan’s ANA reports net profit of $165 mn
AFP
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First Published: Fri, Oct 29 2010. 11 50 AM IST
Updated: Fri, Oct 29 2010. 11 50 AM IST
Tokyo: Japan’s All Nippon Airways (ANA) Friday reported a half-year group net profit of $165 million and raised its full-year outlook, boosted by a recovery in travel demand and lower costs.
ANA posted a net profit of ¥13.3 billion ($165 million) in the six months to September as it “reaped the benefits of tight cost controls and rising passenger demand,” the company said in a statement.
The profit represented a turnaround from a year-before net loss of ¥25.4 billion, which was the group’s first loss for an April-September period in 30 years as the financial crisis and flu scares hit demand.
For the year to March 2011, ANA lifted its net profit forecast to ¥6.0 billion from the previous forecast of ¥5.0 billion.
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First Published: Fri, Oct 29 2010. 11 50 AM IST
More Topics: Japan | Airline | All Nippon Airways | ANA | Profit |