All Nippon Airways Co. said Wednesday it returned to the black in the October-December quarter due to cost-cutting efforts and higher fares.
The carrier reported a group net profit of 6.9 billion yen for the period, reversing a net loss of 6.1 billion yen a year earlier. Operating profit surged 111 percent to 16.4 billion yen, and sales grew 2.8 percent to 313 billion yen.
ANA said the profitability gain was due partly to a fare increase in July for domestic flights and lower costs, especially for personal expenses.
It said a rebound in the number of international passengers after the impact of the severe acute respiratory syndrome outbreak and the war in Iraq also helped.
ANA lowered the fare for domestic flights by 10 percent in October 2002 when Japan Airlines Co. and Japan Air System Co. merged and offered cheaper fares.
ANA raised the price back to its previous level in July, as did its rival.