ANA Raises Net Profit Forecast For FY 2023 Amid Recovery

ANA Holdings Inc. has announced an upward revision of its net profit forecast for the fiscal year ending March to 130 billion yen ($880 million), up from the previous projection of 80 billion yen.

ANA's This revision comes as the airline industry benefits from the easing of COVID-19 restrictions, leading to increased travel to tourist destinations and family visits. I Photo: All Nippon Airways Facebook

This adjustment reflects a 45.3% increase from the previous year, a significant turnaround from the initial forecast of a 10.6% decrease, as reported by Kyodo News.

The Japanese airline also revised its annual sales projection to 2.03 trillion yen, compared to the earlier estimate of 1.97 trillion yen. Operating profit is expected to reach a record 190 billion yen, up from the previous estimate of 140 billion yen, according to Mainichi Japan.

ANA's Chief Financial Officer Kimihiro Nakahori attributed the positive outlook to a surge in customer numbers, driven by robust demand from foreign visitors and leisure travelers.

This revision comes as the airline industry benefits from the easing of COVID-19 restrictions, leading to increased travel to tourist destinations and family visits.

In the nine months ending in December, ANA reported a 2.4-fold increase in net profit to 148.95 billion yen, with sales reaching 1.54 trillion yen, up 22.6%.

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