ANA reports Q1 profit surge
ANA saw a significant expansion in operations on international routes, leading to a rise in operating revenue to 461 billion yen (about $4.19 billion USD)
ANA Holdings Inc. announces its financial results for the first quarter of fiscal year 2023, reporting a notable increase in operating revenue and operating income compared to the same period last year.
The company achieved its first operating profit in four years for the Q1 period, primarily due to expanded operations on international routes and strong demand for both international and domestic travel.
“ANA’s performance this quarter reflects our strategy to be positioned for sustainable growth in domestic and international travel after the restrictions were relaxed,” said Kimihiro Nakahori, Executive Vice President and Group Chief Financial Officer in a July 30 press release. “Being able to achieve a profitable first quarter for the first time in four years is a testament to the relentless efforts of ANA Group employees.”
During the reported period, ANA saw a significant expansion in operations on international routes, leading to a rise in operating revenue to 461 billion yen (about $4.19 billion USD), a 1.3 times increase compared to the previous year. In contrast, operating expenses were contained at 417.2 billion yen (about $3.79 billion USD), representing a 1.2 times increase from the same period last year.
International passenger revenue showed remarkable growth, reaching approximately 2.7 times the revenue of the previous year. Domestic passenger revenue also improved, reaching approximately 1.4 times the previous year’s revenue.
Domestic business travel demand recovered to about 60 percent of pre-COVID levels.
