ANA swings to black in April-December

ALL Nippon Airways’ (ANA) flipped last year from a loss of 35.2 billion yen (US$426.3 million) during the first three quarters of 2009 to a net profit of 37.54 billion yen ($457.4 million) over the same period in 2010. Revenue rose more than 12 per cent to 1.04 trillion yen, operating profit to 77.7 billion yen from a loss of 37.8 billion the year before.

Revenue from cargo operations rocketed 67 per cent, thanks in part to greater demand for liquid crystal and semiconductor components throughout Asia and a “strong” trade route to North America.

However, ANA said it expects the success of the first three quarters to fall in the fourth due to high competition and the weakened Japanese economy.

“Despite a gradual rebound in the Japanese economy, growth is flat and concerns over the steep rise in crude oil prices, a downturn in overseas economies and fluctuation in exchange rates also result in an uncertain outlook,” ANA said.