Peach Aviation logs ¥1.2 billion loss

Kyodo

Peach Aviation Ltd. booked a ¥1.2 billion loss for the business year through March 31, an indicator of testing conditions for budget carriers operating in a highly competitive market, its earnings report showed.

The low-cost carrier, partly owned by ANA Holdings Inc., aims to move into the black as soon as possible by expanding its services, including a route linking Naha, Okinawa Prefecture, and Taipei starting next month.

The Osaka-based airline logged a ¥900 million operating loss in the reporting year on revenue of ¥14.3 billion. Peach Aviation currently operates seven domestic and three international flights.