6-Aug-2012 11:48 AM

ANA notes impact of global economic conditions, LCC entry in Japan

All Nippon Airways warned (03-Aug-2012) it is "facing a number of headwinds in the shape of a slowing world economy, the growing government debt crisis in Europe and increased competition". Increased competition has been witnessed through the liberalisation of Japanese aviation, slot expansion at Tokyo area airports and "the start of full-scale operations by low-cost carriers in Japan" means rising competition in the aviation industry. The carrier also forecast a gradual continued recovery for the Japanese economy backed by reconstruction demand from the earthquake in Japan in Mar-2011, despite rising oil prices, exchange rate fluctuation and restrictions on the supply of electric power. The global economy, however, is expected to slow as the government debt crisis in Europe worsens. [more - original PR]

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