ANA Holdings Posts Operating Income In Q3; 9M Loss Narrows On Domestic Demand; Maintains FY21 View

Japanese aviation company ANA Holdings (ANA.L,ALNPF.PK,ALNPY.PK) announced Tuesday that its third-quarter attributable net loss was 4 billion yen.

Meanwhile, operating income returned to the black for the first time in consecutive eight quarters during the third quarter, with the ANA Group achieving an operating income of 0.1 billion yen. The company said it had initially set a target to return to black in the fourth quarter, and this target was achieved ahead of schedule.

The third-quarter operating revenues were 307 billion yen.

For the nine months, net loss attributable to owners of the parent was 102.8 billion yen, narrower than last year’s loss of 309.5 billion yen.

The continued impact of COVID-19 resulted in an operating loss of 115.8 billion yen for the nine months, compared to prior year’s loss of 362.4 billion yen.

Operating revenues for the nine months increased to 738 billion yen from 527.6 billion yen a year ago mainly driven by increase in demand for travel in Japan.

Passenger demand for domestic flights greatly improved beginning in October after the State of Emergency was lifted in Japan.

Looking ahead for fiscal 2021, the company continues to expect attributable net loss of 100 billion yen, operating loss of 125 billion yen and operating revenues of 1.06 trillion yen. In fiscal 2020, the company’s attributable net loss was 404.6 billion yen, operating loss was 464.7 billion yen and operating revenues were 728.6 billion yen.

Source: Read Full Article