After a $106.33 million quarterly net loss in 2011, ALL Nippon Airways (ANA) posted a 12.5 per cent year-on-year net profit increase to US$7.59 million, drawn on revenues of $4.34 billion, up 12.5 per cent.
The All Nippon group declared that its operating profit in the first quarter of its fiscal year 2012 ending June 30 increased six per cent to $139.24 million.
ANA attributed the improved business performance to a recovery in passenger demand, which was dealt a serious blow by the devastating earthquake and tsunami in March 2011.
But ANA remains cautious: "Although the Japanese economy continues to recover gradually, ANA is facing a number of headwinds such as the slowing world economy, the deep European debt crisis and increased competition," said the company's statement.
ANA group revenue from international cargo operations plunged nine per cent year on year to $272.15 million while revenue from domestic cargo operations fell 3.5 per cent to $96.20 million.
"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 US and Europe from Asia and China, revenue fell below that of the same period last year," the carrier said.
Despite this, ANA left unchanged its revenue and profit forecasts for fiscal 2012 announced on April 27. The air carrier had forecast a full-year operating revenue of $18.99 billion, up 6.3 per cent from fiscal 2011; $1.39 billion in operating profit, up 13.3 per cent from last fiscal year and a net profit of $506.33 million, up 42 per cent from fiscal 2011, the Shipping Gazette informs.