SOURCE: All Nippon Airways
TOKYO–(Marketwire – July 30, 2010) – ANA Group today announced its financial results for the first quarter of the current fiscal year, ending June 30, 2010. Consolidated operating revenues increased 13.7% year-on-year to JPY306.8 billion and expenses fell 2.7% to 303.8 billion, making operating income of the first three months JPY2.9 billion, however recurring loss of JPY2.9 billion and a net loss of JPY5.2 billion were reported.
“While the Japanese economy showed steady recovery during the three month period under review, deflationary effects continued to exert downward pressure, and taking an optimistic view remains difficult. Concerns about a downward economic swing, primarily in Europe, along with moves by our competitors, mean that business conditions going forward will remain uncertain,” said Tomohiro Hidema, ANA’s Executive Vice President, Finance. “Nevertheless, ANA was successful in capturing both business and leisure traffic demands, which has gradually recovered on both domestic and international routes, thus operating revenue exceeding results for the same period in the previous year. We have also worked to hold down costs, matching supply and demand, and reign in operating costs, as well as reducing sales and labor expenses.”
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ANA Public Relations