All Nippon Airways has posted a net income of ¥28.1 billion ($348.3 million) for the first quarter of the year, an increase of 20.6% compared to ¥23.3 billion last year. Operating income rose 43% to ¥97 billion and recurring profit increased by 85% to ¥68.4 billion. “Despite a number of potential headwinds in the coming 12 months, ANA expects to make further progress in the current fiscal year ending March, 2013, using its strength as a network carrier and the launch of low-cost airline operations to improve overall group performance,” the airline said in a statement.

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