Japan's ANA annual net profit soars, rival JAL down

GMT 08:21 2015 Thursday ,30 April

Arab Today, arab today Japan's ANA annual net profit soars, rival JAL down

Japan's 'ANA' airline
Tokyo - AFP

Japanese carrier ANA said Thursday its annual net profit soared on robust international business while rival Japan Airlines saw its bottom line worsen as the weak yen undercut lower fuel prices.

ANA Holdings, the parent company of major carrier All Nippon Airways, said its net profit more than doubled in the year ended in March, logging record revenue as an expansion at a downtown Tokyo airport boosted its international flights.

It recorded a net profit of 39.2 billion yen ($330 million), up 107.8 percent from the previous year.

But Japan Airlines (JAL) said its fiscal-year net profit sank 10.3 percent to 149.0 billion yen as the benefit from lower fuel prices was wiped out by the tumbling yen.

For the fiscal year to March 2016, ANA expects net profit to 32 percent to 52 billion yen while JAL is bracing for a 3.4 percent drop to 144 billion yen.

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