ANA operating profit weakens in 1HFY2011 with FY2011 revenue outlook downgraded

All Nippon Airways (ANA), Japan's largest airline group and Asia's largest publicly listed carrier, reported 11.8% reduction in operating profit to JPY50.1 billion (USD641 million) but a 72% jump in net profitability in 1HFY2011 (six months to 30-Sep-2011) to JPY22.9 billion amid a recovery in demand and a steady increase in business and tourism demand following the 11-Mar-2011 earthquake, tsunami and nuclear disaster. The second quarter also saw strong quarter-on-quarter gains after the past 11-Mar-2011 slump, which saw the carrier report a JPY8.4 billion net loss in the three months to 30-Jun-2011.

Citing concerns about weakness in its own and key global economic markets, stubbornly high oil prices, softening domestic demand and the impact of the strong yen, ANA lowered its full-year sales forecast from an earlier estimate of JPY1.41 trillion to JPY1.40 trillion, which would mark a 3.1% year-on-year revenue increase.