• Kyodo

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Skynet Asia Airways Co. expects to report a net profit of 79 million yen and clear away excess debt in fiscal 2004, President Shoji Shimoda said Friday.

The fledgling airline, based in Miyazaki, launched its Haneda-Miyazaki route, its only service, in August.

Shimoda said he expects the airline’s revenue to improve after it starts a new route between Kumamoto and Haneda in August.

He said the new route will likely boost the company’s revenue to 9.6 billion yen in fiscal 2003, rising to 11.5 billion yen in fiscal 2004.

The airline had a capital deficit of 1.1 billion yen in fiscal 2002. It plans to eliminate the deficit by boosting capital, Shimoda said.

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