Japan carrier ANA Holdings posts half-year profit, raises full-year target – ET TravelWorld

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Japan’s largest airline ANA Holdings Inc swung to a half-year profit and raised its full-year earnings target as a relaxation of Covid-19 border measures fosters a recovery in travel demand.ANA lifted its operating profit forecast to JPY 65 billion (USD 440 million) in the 12 months through March 31, up from earlier guidance of JPY 50 billion, as it recovers from a JPY 173 billion loss the prior year.

That is lower than the consensus forecast for operating profit of JPY 70.4 billion, based on a Refinitiv poll of 12 analysts.

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That beat the 14.8 billion yen operating loss forecast by four analysts, Refinitiv Eikon data showed, and narrowed from a loss of 64.6 billion yen a year earlier. Revenue rose 76.2 per cent to 350.4 billion yen and the company stuck to its forecast of a 50 billion yen operating profit for the year to March 31, 2023.

The company reported an operating profit of JPY 31.45 billion in the six months through September 30, compared to a loss of JPY 116 billion a year earlier, it said in a statement.

Japan reopened its borders to visa-free travel from tourists earlier this month and removed a cap on daily arrivals after more than two years of pandemic-related isolation.

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