Emergency cost cuts totalling 30 million yen helped All Nippon Airways counter a series of headwinds including last year’s Japanese earthquake and tsunami.
The airline brought forward other initiatives which had been due for implementation this year as part of a 100 billion yen cost reduction programme.
Net profit for the year to March was 28.1 billion yen, up from 23.3 billion yen the previous year.
Operating profit rose 43% to 97 billion yen in the year to March on the back of a 4% rise in operating revenues to 1,411.5 billion yen.
“Against the backdrop of a gradual recovery in the domestic economy following the Great East Japan earthquake, rising oil prices, exchange rate fluctuations and the government debt crisis in the eurozone, ANA took decisive action in the fiscal year just ended to stimulate demand and improve efficiency,” the airline said.
“Despite a number of potential headwinds in the coming 12 months, ANA expects to make further progress in the current fiscal year ending March, 2013, using its strength as a network carrier and the launch of low-cost airline operations to improve overall group performance.”
ANA became the first airline in the world to operate the Boeing 787 Dreamliner, introducing the aircraft on domestic services in November and on international routes in January with the launch of flights from Tokyo’s Haneda airport to Frankfurt.