Business | Aug 01

ANA, JAL show signs of recovery

Japan's two biggest airlines posted improving results for the April-to-June period, with one reporting its first return to the black since the start of the coronavirus pandemic.

ANA Holdings logged a group net profit of one billion yen or about 7.5 million dollars. It is the company's first quarterly net profit since the third quarter of 2019.

The air carrier says that sales for the period stood at 350 billion yen or about 2.6 billion dollars, up 76 percent in yen terms from the same time last year.

The strong dollar helped push up the value of dollar-denominated assets, contributing to net profit.

Meanwhile, Japan Airlines says group sales roughly doubled from a year ago in yen terms, hitting 268.8 billion yen or about 2 billion dollars as passengers returned.

The company still logged a net loss of 19.5 billion yen or almost 150 million dollars. But it is the smallest shortfall since the start of the pandemic.

Source: ANNnewsCH

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