ANA Profit Misses Estimates on Low Demand, Higher Costs
- Airline maintains full-year profit outlook at ¥170 billion
- Carrier’s operating profit declines by 31% to ¥30.4 billion
ANA reported profit in the three-month period through June of ¥30.4 billion.
Photographer: Noriko Hayashi/BloombergThis article is for subscribers only.
ANA Holdings Inc.’s operating profit plunged in the first quarter, failing to meet analyst estimates on increasing costs and weak domestic travel demand.
Japan’s largest carrier reported a profit in the three-month period through June of ¥30.4 billion ($196 million), a decline of 31% year-on-year and lower than the lowest analyst estimate. The fall comes as fewer passengers traveled on domestic routes in April and May compared to the year prior.