Tokyo, 27 April, /AJMEDIA/
ANA Holdings Inc said Friday its net profit rose 75.6 percent to a record 157.10 billion yen in the business year ended March, driven by global tourism growth after the coronavirus pandemic.
Sales for the year climbed 20.4 percent to 2.06 trillion yen as demand for both international and domestic flights grew, the parent of All Nippon Airways said.
Revenue from its international passenger services rose 68.0 percent to a record 728.1 billion yen, surpassing that from its domestic flights for the first time thanks to robust inbound travel demand, ANA said.
Domestic passenger service revenue went up 21.8 percent to 644.9 billion yen as tourism demand recovered after the pandemic-related restrictions were fully removed last spring, the airline said.
“Our international operations are now our biggest revenue sources,” ANA President Koji Shibata said at a press conference.
The company beat its earnings forecast made in January when it projected 130 billion yen in net profit and 2.03 trillion yen in sales.
The recent weakness of the yen has also helped attract foreign tourists to Japan. The number of foreign visitors to Japan rose to over 3.08 million in March, exceeding 3 million for the first time, according to government data.
For the current year ending March next year, the company provided a conservative forecast due to intensifying competition, expecting its net profit to fall 30.0 percent to 110 billion yen.
ANA also cited increased investment in human resources development for the expected profit decline, while projecting a 6.5 percent rise in sales to 2.19 trillion yen.
