All Nippon Airways’ parent, ANA Holdings, has cut its 2021 full-year operating loss to 173 billion yen (£1.1 billion), compared with an operating loss of 465 billion yen (£3 billion) a year earlier.
Revenue for the 12 months to the end of March 31 rose 40% to one trillion yen (£6.1 billion), according to financial results from the Japanese carrier.
The statement also said services from London and Paris to Tokyo (pictured) were suspended in March because of the war in Ukraine.
However, flights from Frankfurt and Brussels to the Japanese capital continue to operate, taking alternative flight paths to bypass Russian airspace.
The financial statement said: “During fiscal year 2021, the Japanese economy began to recover, demonstrating signs of improvement in corporate production activities.
“While the airline industry continues to face difficulties due to continued effects of Covid-19, passenger demand is recovering especially on domestic flights, and there are signs of recovery in demand for international flights as well, as entry restrictions are gradually eased.”
ANA Holdings forecasts a return to profit for fiscal year 2022, supported by recovering passenger demand and sustained cost management initiatives.
The relaxation of restrictions helped the number of international passengers to increase 93% to 825,000. Load factors rose 7.4% percentage points to 27%.
Kimihiro Nakahori, executive vice-president and group chief financial officer, added: “The sustained focus on reducing our operating expenses along with increased domestic travel, strong cargo sales and favourable conditions for growth of international traffic point to a better FY2022.”
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