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ANA to report group profit of USD648m for 12 months

1-Mar-2011 9:52 AM

All Nippon Airways (ANA) stated it expects to report a group net profit of JPY53 billion (USD648 million) in the 12 months ended Mar-2013 by capitalising on travel demand growth in Asia and cost cutting (Dow Jones, 28-Feb-2011). The net profit figure compares with the JPY6 billion (USD73 million) it forecasts for the current fiscal year and the JPY45 billion (USD550 million) it expects for FY2011. The airline is targetting an operating profit of JPY130 billion (USD1.6 billion) for fiscal 2012 with an operating profit margin of 8.3%. For fiscal year 2011, the company expects to reduce costs by JPY10 billion (USD122 million) through increased productivity and streamlining of airport operations. ANA plans to increase international passenger revenue by 40% in fiscal 2012 compared with 2010 by increasing revenues in Asia (excluding China) by 55% and in China by 38%.