JAPAN: ANA reduces 2009-10 forecast
ANA said it now expects to report a Ã‚Â¥65 billion (US$720 million) net loss in its fiscal year ending 31 March, compared to the Ã‚Â¥28 billion loss forecast last October, owing to a Ã¢â‚¬Å“slower than expected recovery,Ã¢â‚¬Â although it plans to return to profit in 2010-11. The Japanese carrier said domestic demand and unit revenue […]
April 1, 2010
The Japanese carrier said domestic demand and unit revenue both failed to rebound as expected and improvement in international traffic failed to produce the anticipated recovery.
The full-year loss will compare to a Ã‚Â¥4.2 billion deficit in 2008-09. The company was Ã‚Â¥35.1 billion in the red through the nine months ended 31 December, 2009. Revenue for 2009-10 is expected to be Ã‚Â¥1.22 trillion rather than the Ã‚Â¥1.26 trillion forecast in October, and ANA now is forecasting a full-year operating loss of Ã‚Â¥61 billion rather than Ã‚Â¥20 billion. It said various cost-cutting measures will leave expenses in line with last fallÃ¢â‚¬™s expectations.
In its Ã¢â‚¬Å“FY2010-11 Corporate StrategyÃ¢â‚¬Â, ANA said it anticipates an improved business opportunity next year thanks to capacity increases at Tokyo Narita and Haneda and the long-awaited introduction of the 787, both of which will fuel long-haul growth.