Japan's All Nippon Airways posted a group net loss of $390 million in the first nine months of fiscal 2009, which started in April, compared with a group net profit of $104.4 million a year earlier.
ANA is Japan's second-largest air carrier after Japan Airlines, which filed for bankruptcy protection on Jan.19 and is in the process of rehabilitating itself under a state-backed plan.
The ANA group's revenue from its overall operations tumbled 16.6 percent in the April-December period from a year earlier to $10.3 billion. The airline posted a group operating loss of $420 million in the April-December period, compared with a group operating profit of $447.8 million a year earlier.
While ANA attributed the dismal results to slumping passenger demand, revenue from international cargo operations plunged 34.1 percent to $433.3 million. The ANA group carried 303,000 tons of freight on its international routes during the nine month period, up 6.4 percent, but shorter mileage brought international cargo volume down 4.2 percent to 1.3 billion ton kilometers.
Revenue from domestic cargo operations also fell 4.6 percent to $271.1 million. The group carried 352,000 tons of domestic freight, down 3.7 percent. Domestic volume slipped 2.2 percent to 348 million ton kilometers.
"Demand was weak on international routes due to the business downturn, but cargo movements recovered on China routes, thanks to domestic demand stimulus measures in China," ANA said.
"We also worked to create demand within the growing Asia region, launching the 'Okinawa Hub Network' in October which links three locations in Japan and five locations in Asia with Naha Airport in Okinawa, using night flights. However, recovery of the unit prices was slow, leading to a year-on-year decline in revenues on international routes," ANA said.
"Domestic cargo volumes dropped overall year-on-year due to sluggish demand for general mixed cargo and other factors, although demand for home parcel delivery services using flights centered on Okinawa held steady," ANA said.
The airline's full-year projections for the whole of fiscal 2009 are unchanged at $14 billion in revenue, down 9.5 percent from fiscal 2008; $222.2 million in operating loss, compared with an operating profit of $83.3 million in fiscal 2008; $311.1 million in net loss, compared with a net loss of $46.7 million in fiscal 2008.
Contact Hisane Masaki at firstname.lastname@example.org.