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JAL, ANA post strong April to December profit despite cargo decline
LOWER air freight revenues failed to stop Japan抯 top two air carriers, Japan Airlines Corp and ANA Holdings Inc, achieving a surge in their group net profits in the first nine months of the fiscal year ending March 31 2016, running from April to December.
JAL抯 group net profit rose by 20.1 per cent over this period from a year earlier to JPY143 billion (US$1.179 billion), while revenue from overall operations remained almost flat at JPY1.02 trillion.
Group revenue from overall cargo operations decreased by 4.2 per cent year on year to JPY60.4 billion, after international cargo revenue fell 4.1 per cent to JPY42.4 billion and domestic cargo revenue declined by 4.3 per cent to JPY17.9 billion, reported IHS Media.
ANA Holdings, the parent company of All Nippon Airways Co, said that its group net profit jumped by 40 per cent from April to December 2015 compared to the same period a year earlier to JPY73.3 billion due to solid overall revenue growth and cost-cutting efforts, even though cargo operations floundered.
ANA抯 revenue from overall operations rose by 5.5 per cent in the first nine months of fiscal 2015 against the previous fiscal year to JPY1.36 trillion, while group revenue from international cargo operations fell by 5.8 per cent to JPY88.3 billion.
The company attributed the decline to weak demand for cargo departing from overseas airports to Japan owing to the yen抯 depreciation.
Group revenue from domestic cargo operations fell by 3.1 per cent year on year to JPY24.4 billion.
JAL抯 group net profit rose by 20.1 per cent over this period from a year earlier to JPY143 billion (US$1.179 billion), while revenue from overall operations remained almost flat at JPY1.02 trillion.
Group revenue from overall cargo operations decreased by 4.2 per cent year on year to JPY60.4 billion, after international cargo revenue fell 4.1 per cent to JPY42.4 billion and domestic cargo revenue declined by 4.3 per cent to JPY17.9 billion, reported IHS Media.
ANA Holdings, the parent company of All Nippon Airways Co, said that its group net profit jumped by 40 per cent from April to December 2015 compared to the same period a year earlier to JPY73.3 billion due to solid overall revenue growth and cost-cutting efforts, even though cargo operations floundered.
ANA抯 revenue from overall operations rose by 5.5 per cent in the first nine months of fiscal 2015 against the previous fiscal year to JPY1.36 trillion, while group revenue from international cargo operations fell by 5.8 per cent to JPY88.3 billion.
The company attributed the decline to weak demand for cargo departing from overseas airports to Japan owing to the yen抯 depreciation.
Group revenue from domestic cargo operations fell by 3.1 per cent year on year to JPY24.4 billion.
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