All Nippon Airways says first-half net profit up 78% at $328 mn

TOKYO:  Japan’s All Nippon Airways (ANA) said Thursday its net profit for the six months to September soared about 78 percent to $328 million, citing a Tokyo airport expansion.

The carrier said it earned 35.77 billion yen ($328 million) against a 20.07 billion net profit a year earlier, while April to September sales rose 9.1 percent to 854.82 billion yen.

The sharp improvement came as ANA expanded its international services, benefiting from a major expansion of Tokyo’s downtown Haneda Airport, which it said helped offset a jump in operating expenses mainly due to the higher fuel costs.

A sharp decline in the yen has sent the price of fuel — often an airline’s single-biggest expense surging for ANA and rival Japan Airlines, which reports its earnings on Friday.

Operating profit for the first half year rose about 33 percent to 57.94 billion yen, ANA said, while it also booked a one-off profit of 9.9 billion yen as it changed the structure of its corporate pension scheme.

For the full-year to March, the airline kept its estimate of a 35 billion yen net profit on sales of 1.7 trillion yen.

Source: AFP