All Nippon Airways Co. (ANA), has announced a group net profit which has soared 20.9 per cent in fiscal 2011, which ended on March 31, from the previous fiscal year to US$346.9 million on revenues of $17.4 billion, up four per cent year-on-year. ANA posted a group operating profit of $1.2 billion in the last fiscal year, up 43.1 per cent from a year earlier and the biggest on record.
ANA said its strong business performance in fiscal 2011 was due to measures it took “to stimulate demand and cut costs in the face of a challenging economic environment.”
“Against the backdrop of a gradual recovery in the domestic economy following the Great East Japan Earthquake, rising oil prices, exchange rate fluctuations and the government debt crisis in the eurozone, ANA took decisive action in the fiscal year just ended to stimulate demand and improve efficiency,” the carrier said.
ANA’s group revenue from its international cargo operations rose 2.2 per cent in fiscal 2011 from a year earlier to $1.09 billion. ANA’s group revenue from its domestic cargo operations also increased 2.6 per cent to $409.88 million. ANA did not give specific profit figures for its cargo operations.