ANA reports profitable start to fiscal year 2008

ANA Group reported consolidated revenue of 345.5 billion yen and operating income of 14.6 billion yen for the first quarter of fiscal year 2008, ended June 30, a drop of 1.2% and increase of 10.5% respectively. Net income decreased 92.4% year-on-year to 6.6 billion yen, accounted for by an extraordinary gain on the sale of ANA’s hotel properties in June 2007 which boosted the net income reported in the first quarter of the previous year far beyond normal levels.

Within the airline segment, a 1.5 billion yen year-on-year increase was reported overall, in spite of increasingly severe competition with other airlines and the bullet train in Japan, sky high oil prices and a domestic economy that has begun to show signs of stagnation in the wake of the US economic slowdown. Demand for business travel on North America and Europe routes remained healthy, resulting in increased passenger numbers and revenue, and thanks to a strengthened network, international cargo revenue and volumes showed increases of more than 18% and 26% respectively.

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