All Nippon Airways (ANA) has revised its 2011 full financial year performance forecast upward, citing strong tourism demand and reduced operating expenses.
Operating revenue for the year is expected to be ¥11 billion ($135 million) better than originally forecast, a 0.8% increase to ¥1,411 billion. Operating income is expected to be 7.8% higher than the original forecast, to ¥97 billion. Recurring profit will be 21.4% higher at ¥68 billion and net income is now forecast to be ¥28 billion, 40% higher.
The carrier’s fiscal year runs from April 1, 2011 to March 31, 2012. ANA’s previous forecast for the year was issued Jan. 31.
“Operating revenues have increased by approximately ¥11 billion due to strong demand in tourism and other factors, in spite of sluggish business demand for air transport on domestic routes,” ANA said in a statement.
The new forecast means ANA will show a significant net income year over year; its fiscal 2010 profit was ¥23.3 billion.
Article Source : ATW Daily News
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