Print Edition - 2017-11-02  |  Money Digest

All Nippon Airlines soars to record profit


Nov 2, 2017-

Japan’s top airline by passenger numbers, All Nippon Airlines, upgraded its full-year forecasts on Wednesday as profits soared to new records due to solid demand. Parent company ANA Holdings said net profits for the first-half period from April to September had more than doubled from a year earlier to a record 118.4 billion yen ($1.0 billion). However, this rise was mainly due to income gained from integrating budget carrier Peach Aviation onto its books as well as a strong performance in international passenger and cargo services. ANA Holdings has soared in recent years, booking an all-time high net profit for the last fiscal year on gains in its international business. By putting Peach under its umbrella ANA, which also controls budget carrier Vanilla Air, is aiming to grab a bigger portion of Japan’s low cost carrier (LCC) market, analysts said. 

Published: 02-11-2017 08:20

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