All Nippon Airways posted 6.6 billion yen in net losses in the business year that ended March 31 on 903 billion yen in sales, down 0.8 percent from the previous year, carrier officials reported Thursday.
They blamed the performance on declining domestic air fares and shrinking demand for business and first class seats on international flights.
Although the number of passengers grew in both domestic and international services, the carrier’s revenue from passenger services declined 19.5 billion yen to 757.1 billion yen.
ANA posted 13.2 billion yen in operating losses, the first since 1981, because expenses such as airport and maintenance fees increased, the officials said.
However, the carrier posted 585 million yen in pretax profits, mainly due to 39.2 billion yen from so-called credit memos, money reimbursed by aircraft makers after carriers buy airplanes.