ANA income drops during Q1

All Nippon Airways parent ANA Holdings has posted a 56.2% decline in net income to ¥18.8 billion ($183 million) for the full 2013 financial year ended March 31, 2014. The group cited the weakness of the Japanese yen that pushed fuel costs 22% higher as the main reason for the decline. Revenue rose by 7.9% however to a record high of ¥1.6 trillion. Operating costs rose 11.3% to ¥1.54 trillion, while and operating income dropped by 36.4% to ¥66 billion. The airline group carried 3.5% more passengers during FY2013 to 49 million, although loan factor dipped by 0.5 percentage points