Business / Corporate

ANA and JAL see profits rise in first half on business demand

Kyodo

The group net profits of Japan’s two major airlines grew in the April-September first half on firm demand from business fliers for both domestic and international flights, according to their earnings reports.

ANA Holdings Inc., the parent of Japan’s biggest carrier All Nippon Airways Co., reported Wednesday a record consolidated net profit of ¥118.3 billion ($1.04 billion) for the six-month period, up about 2.1-fold from a year earlier, while Japan Airlines Co. recorded a 9.2 percent rise to ¥77.9 billion.

ANA said the increased profit was also attributable to the inclusion of an extraordinary profit from Peach Aviation Ltd. which became a consolidated subsidiary from fiscal 2017.

ANA’s operating profit soared 28.5 percent to ¥115 billion, on sales of ¥985 billion, up 11.3 percent.

It upgraded its group net profit forecast for the full year through March 31 to ¥132 billion from an initial forecast of 125 billion.

JAL reported the previous day that its consolidated operating profit grew 7.2 percent to ¥99 billion in the April-September period, on sales of ¥692.3 billion, up 6.2 percent.

JAL is projecting a group net profit in the business year through March of ¥121 billion, up ¥13 billion from its previous estimate.

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