ANA post cargo loss but plans growth
05 / 08 / 2009
ALL Nippon Airways (ANA) lost ¥29.2 billion (US$306 million) in the first quarter of this financial year. This compares with ¥6.6 billion ($69 million) in the same period last year. However, the airline said that it still expects to make a profit by year’s end by cutting costs.
“The business environment was extremely severe,” said senior vice-president Eiji Kanazawa. “Demand for flights slowed down quickly due to the recession and the outbreak of a new type of influenza. The fate of the global economy remains uncertain. But we still expect to enter a recovery phase in the second half.”
International cargo sales fell 47.7 per cent in the first quarter to ¥10.2 billion ($106 million) while domestic cargo fell 5.3 per cent to ¥7.6 billion ($70.5 million).
Aiming to try and claw back some cargo success, ANA has announced that it is to create a cargo network between Okinawa with eight other Asian airports. The network will include Bangkok, Haneda, Hong Kong, Narita Kansai, Seoul, Shanghai and Taipei. The move follows the carrier’s decision to build a US$21 million cargo terminal at Okinawa’s Naha Airport.