Japan carrier ANA Holdings posts half-year profit, raises full-year target

Japan’s largest airline ANA Holdings Inc on Monday swung to a half-year profit and raised its full-year earnings target as a relaxation of COVID-19 border measures fosters a recovery in travel demand. ANA lifted its operating profit forecast to 65b yen ($440m) for the 12 months through March 31, up from earlier guidance of 50b yen, as it recovers from a 173b yen loss the prior year. The outlook is lower than the consensus forecast for operating profit of 70.4b yen, based on a Refinitiv poll of 12 analysts. CE Koji Shibata told reporters the company expects to return to pre-pandemic performance levels over fiscal year 2023 to 2025 and to be back on a growth trajectory from fiscal 2026. The Ukraine and Russia conflict poses a risk to that plan, however, as it imposes airspace detours around the area and makes it difficult to increase flights to Europe, he added. The company reported an operating profit of 31.45b yen in the six months through Sept. 30, compared to a loss of 116b yen a year earlier, it said. <br/>