Hisane Masaki, Special Correspondent | Aug 03, 2012 9:28AM EDT
All Nippon Airways Co. posted a group net profit of $7.59 million in the first quarter of fiscal 2012, which ended June 30, compared with a net loss of $106.33 million a year earlier.
The Japanese carrier’s group revenue from overall operations soared to $4.34 billion in the April-June quarter, up 12.5 percent year-over-year. Its group operating profit rose 6 percent to $139.24 million.
ANA attributed the improved business performance largely to a recovery in passenger demand, which was dealt a serious blow by the devastating earthquake and tsunami that hit the northeastern part of Japan on March 11, 2011.
But the carrier remains cautious on the future. “Although the Japanese economy continues to recover gradually, ANA is facing a number of headwinds,” the carrier said in an earnings release, citing “a slowing world economy, the deep European debt crisis and increased competition.”
ANA’s group revenue from international cargo operations plunged 9 percent year-over-year in the fiscal first quarter to $272.15 million. Its group revenue from domestic cargo operations fell 3.5 percent to $96.20 million.
ANA did not give specific profit figures for its cargo operations.
“Despite the solid performance of fresh cargo to and from Okinawa along with home delivery parcel services, cargo volumes and revenue on domestic routes fell compared with the high levels recorded in the same period last year immediately after the earthquake,” ANA said.
“In addition, international cargo transport demand was affected by the economic slowdown in Europe. Although cargo volume exceeded that of the same period last year due to actively engaging in third country cargo such as that destined for the U.S. and Europe from Asia and China, revenue fell below that of the same period last year,” ANA said.
ANA left unchanged its group revenue and profit forecasts for fiscal 2012, which were announced on April 27.
ANA’s full-year projections are $18.99 billion in operating revenue, up 6.3 percent from fiscal 2011; $1.39 billion in operating profit, up 13.3 percent from fiscal 2011; and $506.33 million in net profit, up 42 percent from fiscal 2011.
Contact Hisane Masaki at yiu45535@nifty.com.