ANA Group’s net income soars 96%

ANA Group’s net income soars 96%    Tokyo-based ANA Group, parent company of All Nippon Airways Co. Ltd., today reported a 96 percent rise to its net income to 10.2 billion yen ($87 million), in the third quarter of its fiscal year 2005, from 5.2 billion yen in the same quarter fiscal year 2004.
   The ANA Group comprises All Nippon Airways, Air Nippon, Air Japan, Air Nippon Network, Air Hokkaido and Air Central.
   Quarterly operating profit dropped 4.8 percent to 20.4 billion yen ($174 million) from 21.4 billion yen. Consolidated revenue was 347.2 billion yen ($2.96 billion), up 7.5 percent from 323 billion yen.
   After the first three quarters of it’s fiscal year, ANA reported net income of 29.9 billion yen ($255 million), down 14.8 percent compared to 35 billion yen. Operating profit improved 10.9 percent to 89.9 billion yen ($766 million), from 81.1 billion yen. Consolidated revenue was 1 trillion yen ($8.5 billion), up 5.7 percent from 982.5 billion yen.
   International cargo revenues after three quarters jumped 17 percent to 40.9 billion yen ($349 million), while domestic cargo revenue was flat at 22.5 billion yen ($19 million.) ANA Group airlines carried a combined 520,000 tons of cargo worldwide in the three quarters.
   “The growth in our passenger and cargo operations also reflects improving general economic conditions in Japan. However, despite posting our highest ever nine-month revenue and second highest ever operating profit, operating profit and net profit were adversely affected by continued record high oil prices — adding almost 12 billion yen ($102 million) to our costs in the third quarter alone, compared to the same period last year,” said Tomohiro Hidema, ANA’s senior vice president financial.
   At the same time, All Nippon Airways exercised its right to transfer a previous order with Boeing for two 767-700 aircraft with two 737-700ER (Extended Range) planes.