Japan’s ANA reports net profit of $165 mn

Japan’s ANA reports net profit of $165 mn

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.