Japan's two biggest airlines on Tuesday posted a significant jump and recovery in profits in the April-September period as travel demand picked up after the removal of COVID-19 restrictions revived travel demand.
Net profit at ANA Holdings Inc. more than quadrupled from a year earlier to 93.21 billion yen ($620 million) in the six months ended Sept. 30, boosted by an increase in both domestic and international travelers. Sales grew 26.8 percent to 1 trillion yen.
Japan Airlines Co. posted a net profit of 61.67 billion yen in the fiscal first half, a reversal from a net loss of 2.2 billion yen a year earlier. Sales increased 32.7 percent to 820.94 billion yen.
Reflecting the demand pick-up, JAL raised its net profit forecast for the year through March to 80 billion yen from an earlier estimate of 55 billion yen. Sales are now projected at 1.684 trillion yen, up from an earlier outlook of 1.658 trillion yen.
ANA left unchanged its full-year forecast, expecting a net profit of 80 billion yen on sales of 1.97 trillion yen.
