Japan carrier ANA Holdings raises profit estimate on cheaper fuel, yen rise

Japan’s largest airline ANA Holdings Inc (9202.T) on Friday raised its profit estimate for the just-ended fiscal year, citing a decline in fuel costs and an uptick in the yen.

The company now expects operating profit of 120 billion yen ($897 million) in the year through March 2023, up from an earlier guidance of 95 billion yen, it said in a statement. Official full-year results are scheduled for release on April 27.

International passenger revenues were strong in the fourth quarter due to a recovery in demand for business and inbound travel following Japan’s easing of pandemic border controls, ANA said. International cargo revenue remains stagnant, it said.

ANA said in a mid-term plan in February it expects operating profit to grow to 200 billion yen in fiscal 2025. The airline’s fleet will rise to around pre-pandemic levels of 295 in fiscal 2025 and exceed that level in fiscal 2030.

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