ANA reports profit in three months to Sep-2009; losses in six months to Sep-2009

All Nippon Airways (ANA) announced (30-Oct-2009) the following financial/traffic highlights for the three and six months ended 30-Sep-2009:

2Q2009:

• Revenue: USD3.8 billin, -65.8% year-on-year;
• Operating costs: 3.6 billion, -44.7%;
• Operating profit: 156.8 million, -21.0%;
• Non-operating profit: (69.0 million), +0.5%;
• Net profit: 42.3 million, -11.5;
• Passengers:
  • Domestic: 11.2 million, -5.5%;
  • International: 1.2 million, +2.5%;
• Capacity (ASKs):
  • Domestic: 15.2 billion, -1.9%;
  • International: 6.8 billion, -4.7%;
• Traffic (RPKs):
  • Domestic: 10.0 billion, -4.3%;
  • International: 5.3 billion, +0.9%;
• Load factor (%):
  • Domestic: 65.7%, -1.7 ppts;
  • International: 77.9%, +4.3 ppts;
• Freight (1,000 tons):
  • Domestic: 120, -1.4%;
  • International: 99, -0.1%.

1H2009

• Revenue: USD6.8 billion, -18.8% year-on-year;
• Operating costs: USD7.1 billion, -9%;
• Operating profit: (313.6 million), compared to an operating profit of USD553.9 million in the previous corresponding period;
• Non-operating profit: (146.8 million), compared to a non-operating profit of USD114.5 million in the previous corresponding period;
• Net profit: (USD281.4 million), compared to an operating profit of USD244.6 million in the previous corresponding period.
• Passengers:
  • Domestic: 20.2 million, -9.3%;
  • International: 2.2 million, -6.4%;
• Capacity (ASKs):
  • Domestic: 29.6 billion, -2.9%;
  • International: 13.5 billion, -5.3%;
• Traffic (RPKs):
  • Domestic: 18.0 billion, -8.1%;
  • International: 9.8 billion, -6.0%;
• Load factor (%):
  • Domestic: 60.8%, -3.4 ppts;
  • International: 72.4%, -0.6 ppts.
• Freight (1,000 tons):
  • Domestic: 229, -2.5%;
  • International: 186, -5.5%.

ANA stated (30-Oct-2009) that, during Silver Week, the number of passengers exceeded 2008 levels by more than 15%, but overall the number of passengers and revenue per passenger fell short of the previous year's level, leading to a year-on-year decline in sales during the period.

• Based on an exchange rate at 1 JPY = 0.0111225 USD

All Nippon Airways: "Although there were signs of a recovery in demand from August, with passenger numbers exceeding the previous year's level, the overall number of passengers during the period under review was lower than the same period last year, due to the first quarter demand slowdown. Revenue per passenger also fell, in part because of a reduction in business class usage, pushing down sales below the previous year's level," Company Statement, 30-Oct-2009.

All Nippon Airways: "Conditions were extremely challenging during the three-month period under review, due to the global recession triggered by last year's financial crisis, as well as the spread of H1N1 influenza (swine flu), which began affecting Japan from mid-May. Under these circumstances, the ANA Group made concerted efforts to stimulate leisure demand among individual travellers during summer 2009, launching the "ANA Natsu no Dai Sakusen" campaign. We also strove to cut costs, pushing forward with our FY09 Business Plan and FY09 Emergency Income Recovery Plan. While we have implemented a range of measures to boost revenues and cut costs, we were unable to offset the slump in demand and fall in unit pricesAs well as a slump in [domestic] demand for business travel due to the economic downturn, companies placed restrictions on business trips or made cancellations due to the spread of H1N1 influenza (swine flu), and competition with rival carriers and other transport providers intensified…Conditions were also extremely difficult in international air transport, with passenger numbers declining through June due to restrictions on business travel in the wake of the global recession and H1N1 influenza, as well as cancellations to overseas travel," Company Statement, 30-Oct-2009.