Japan carrier ANA Holdings raises profit estimate on cheaper fuel, yen rise

Japan's largest airline ANA Holdings on Friday raised its profit estimate for the just-ended fiscal year, citing a decline in fuel costs and an uptick in the yen. The company now expects operating profit of 120b yen ($897m) in the year through March 2023, up from an earlier guidance of 95b yen, it said in a statement. Official full-year results are scheduled for release on April 27. International passenger revenues were strong in Q4 due to a recovery in demand for business and inbound travel following Japan's easing of pandemic border controls, ANA said. International cargo revenue remains stagnant, it said. ANA said in a mid-term plan in February it expects operating profit to grow to 200b yen in fiscal 2025. The airline's fleet will rise to around pre-pandemic levels of 295 in fiscal 2025 and exceed that level in fiscal 2030. <br/>