ANA financial results for the first nine months of FY08

ANA Group reported its consolidated financial results for the first nine months of fiscal year 2008, ending December 31, 2008. Against a background of recession at home and globally, an operating income of 40.3 billion yen and a net income of 9.4 billion yen were reported on revenue of 1.1 trillion yen, reductions of 57.1%, 92% and 3% respectively. ANA Group's main fields of operation are air transportation, travel services and other businesses. Net income, in the previous year, had been boosted beyond normal levels by an extraordinary gain on the sale of ANA's hotel properties that used to form part of the Group's portfolio.

The final three months of the period under review became very challenging in all markets. Leading up to the end of December we saw a severe drop in international passengers on routes to Europe and North America, and to China, resulting in a fall in revenue compared with the same period last year, said ANA Executive Vice President Finance, Tomohiro Hidema. And at home, despite reducing capacity and responding with greater flexibility to market conditions, softening demand brought fewer passengers and smaller revenue. On the other hand, in spite of an overall and continuing drop in activity, cargo remained a bright spot, showing better results than the previous year, thanks, in part, to a strengthened operational base, he went on.

Source: Transportweekly