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ANA expecting return to profitability in current fiscal year

3-May-2010 10:04 AM

All Nippon Airways stated it expects cost-cutting measures and an enhancement of its international services would help it return to profitability in the current fiscal year (Kyodo News/Associated Press, 03-May-2010). The carrier is forecasting a net profit of JPY5 billion (USD53 million) and an operating profit of JPY42 billion (USD446 million) on revenues of JPY1.36 trillion (USD14 billion, a 10.7% year-on-year increase) in the 12 months to Mar-2011, with the carrier stating it is seeing demand returning mainly on international services. However, the carrier cautioned that a "recovery in income per customer is still slow and we can't be optimistic about the business environment surrounding us".