The slightly above break-even figure for the quarter ended Dec. 31 – its first positive result in eight quarters – was better than the average operating loss of 16.5 billion yen forecast by five analysts polled by Refinitiv.
It also exceeded ANA’s goal of returning to operating profit in the fourth quarter.
For the 12 months ending March 2022, ANA maintained its operating loss forecast of 125 billion yen. This figure compares with the average loss of 130.6 billion yen forecast by 11 analysts polled by Refinitiv.
The airline said passenger demand for domestic flights improved significantly in October after the pandemic-related state of emergency was lifted in Japan.
ANA also benefited from cost reductions and record airfreight revenue in the third quarter, although international passenger travel remains depressed due to border restrictions.
However, for the current quarter, it is likely to face a record number of COVID-19 cases in the domestic market.
Japan last week expanded regions under tighter coronavirus restrictions to cover 70% of the country as the government tries to stem a surge of COVID-19 cases caused by the Omicron variant.
These measures, which will be applied until February 20, allow regional governors to ask restaurants and bars to reduce their opening hours and stop serving alcohol.
An index measuring Japanese consumer confidence fell 2.4 points in January to its lowest level since August, a government survey showed on Monday, a sign that record infections from the Omicron variant have hurt the economy. feeling.
($1 = 114.9800 yen)