TOKYO, Oct 31 (Reuters) – Japan’s largest airline ANA Holdings Inc (9202.T) posted a half-year profit on Monday and raised its full-year profit target as an easing of COVID-19 border measures promote a recovery trips request.
ANA raised its operating profit forecast to 65 billion yen ($440 million) for the 12 months to March 31, up from the previous forecast of 50 billion yen, as it recovers from a loss of 173 billion yen the previous year.
The outlook is below the consensus forecast for operating profit of 70.4 billion yen, based on a Refinitiv poll of 12 analysts.
Chief Executive Koji Shibata told reporters the company plans to return to pre-pandemic performance levels in fiscal year 2023 to 2025 and return to a growth trajectory from fiscal year 2026.
The conflict between Ukraine and Russia poses a risk to this plan, however, as it imposes airspace detours around the region and makes it difficult to increase flights to Europe, he added. .
The company reported operating profit of 31.45 billion yen in the six months to September 30, compared with a loss of 116 billion yen a year earlier, it said in a statement.
Japan reopened its borders to visa-free tourist travel earlier this month and scrapped the cap on daily arrivals after more than two years of pandemic-related isolation.
ANA said it now expects a full resumption of domestic operations by the end of the financial year, while international figures will rebound to 60% of pre-COVID-19 levels.
($1 = 147.9000 yen)
Reporting by Maki Shiraki and Rocky Swift; Editing by Tom Hogue and Christopher Cushing
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