QUARTER LOSS FOR ANA

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By TESTCustomwebLP TESTCustomwebLP August 1, 2011 08:27

QUARTER LOSS FOR ANA

All Nippon Airways has posted an ¥8.4 billion ($107.9 million) net loss for its fiscal first quarter ended June 30, widened from an ¥5.2 billion net deficit in the prior-year period.

“The losses during the period reflect the severe disruption caused by the Great East Japan earthquake in March, which resulted in a significant decline in passenger numbers,” ANA stated Friday. “Despite the steady recovery of the Japanese economy during the period, the short-term outlook remains unclear due to factors including restrictions on electric power distribution, the nuclear power shutdown and a steep rise in crude oil prices.”

But the airline said that business passenger numbers were beginning to recover after bottoming out in April, while leisure traffic also showed signs of improvement.

ANA’s fiscal first-quarter operating revenue declined 0.6% year-over-year to ¥305 billion while expenses heightened 3.1% to ¥313.1 billion, producing an operating loss of ¥8.1 billion, reversed from a ¥2.9 billion operating profit in the 2010 June quarter.

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By TESTCustomwebLP TESTCustomwebLP August 1, 2011 08:27
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