- Joe Breitfeller
ANA Reports FY2022 Net Profit of $656 Million on Revenue Increase to $12.5 Billion
During Fiscal Year 2022, ANA returned to profitability for the first time since FY2020. The Group reported a net profit of 89.4 billion yen (US $656 million) on a year-over year increase in revenue of 687.1 billion yen (US $5.04 billion) to 1.70 trillion yen (US $12.5 billion).
On Thursday (April 27, 2023), ANA Holdings reported their FY2022 financial results for the fiscal year ending March 31, 2023. The Group reported their first profitable year since FY2020 with a net profit of 89.4 billion yen (US $656 million). ANA’s FY2022 revenue increased year-over year by 687.1 billion yen to 1.70 trillion yen. The company's positive FY22 result was driven by improved demand due to the gradual easing of entry restrictions in various countries throughout the fiscal year. Although operation-related costs increased with the scaling of operations, the company worked to cut costs through the execution of structural business reforms, while being supported by various tax exemptions and government subsidies.
In Thursday’s announcement, ANA’s Executive Vice President and Group Financial Officer, Kimihiro Nakahori, said,
“The ANA Group is pleased to announce our strong financial performance that marks the first profitable full year of operations since the pandemic began three years ago. These results are a testimony to the dedication of our employees, loyalty of our customers and support from our stakeholders that point towards a promising future.”
Driven primarily by a decline in demand for auto-related parts and other factors, ANA Cargo’s FY22 revenue declined year-over-year by 6.3 percent to 308 billion yen (US $2.26 billion). Peach Aviation Limited’s revenue increased year-over-year by 138.7 billion yen (US $1.02 billion) to 90.2 billion yen (US $662 million).
Founded in 1952, ANA has grown to become the largest airline in Japan. The carrier has been a Star Alliance partner since 1999 and currently has joint partnerships with United Airlines, Lufthansa, SWISS and Austrian Airlines. Established in 2013, ANA HOLDINGS INC. is comprised of 69 companies, including ANA and Peach Aviation, the leading LCC in Japan. The ANA Group has approximately 43,000 employees and operates a fleet of over 200 aircraft. Additionally, the carrier was the launch customer and is the largest operator of the Boeing 787 Dreamliner Family aircraft, and is the only Airbus A380 operator in Japan.
Source: All Nippon Airways