- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
- Hong Kong stocks resume rally, oil dips after Middle East-fuelled surge
- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
- Hera spacecraft to probe asteroid deflected by defence test
- US dockworkers to head back to work after tentative deal
- After Helene's destruction, North Carolina starts to rebuild
- Dockers end three-day strike at Montreal port
- What next for OpenAI after $157 billion bonanza?
- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
- 'Devastating' storm hits Augusta National but Masters will go on
- Relief in Brazil, Asia over delay to EU deforestation rules
- Oil prices jump, stocks fall on Middle East tensions
- Biden says 'discussing' possible Israeli strikes on Iran oil facilities
- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
- Dutch airline KLM unveils 'firm' cost-cutting measures
- Carpe diem: the Costa Rican women turning fish into fashion
- Senegal looks to aquaculture as fish stocks dwindle
- Will AI one day win a Nobel Prize?
- Climate change, economics muddy West's drive to curb Chinese EVs
- Argentina's Milei vetoes university budget after huge protests
- TotalEnergies plans to grow oil and gas production until 2030
- 2024 Nobels offer glimmer of hope as global crises mount
- Tokyo rallies on weak yen, Hong Kong reverses after surge
- Tunisia readies for vote as incumbent Saied eyes victory
- High childcare costs in US weigh on women's employment
- US voters seek help with crushing childcare costs
- Taiwan shuts down for second day as Typhoon Krathon to land
- Supercharged storms: how climate change amplifies cyclones
- Biden official urges talks as US port strike enters second day
- Huge protests in Argentina over public university cuts
- Rally in oil prices loses steam on mixed day for global stocks
- South America treated to rare 'ring of fire' eclipse
- Biden official says port strike deal not as far as parties think
- Mexico's new president offers apology for 1968 student massacre
- Historic funding round values OpenAI at $157 billion
- Mixed US car sales in Q3 as industry hopes for post-election bounce
- Thunderstorms are a 'boiling pot' of gamma rays, scientists find
CMSC | -0.16% | 24.74 | $ | |
RBGPF | 100% | 58.93 | $ | |
SCS | -1.98% | 12.62 | $ | |
AZN | -2.12% | 77.93 | $ | |
NGG | -2.7% | 66.97 | $ | |
GSK | -2.81% | 38.37 | $ | |
CMSD | -0.16% | 24.89 | $ | |
RELX | -1.46% | 46.61 | $ | |
RYCEF | 1.15% | 6.98 | $ | |
RIO | -1.42% | 69.83 | $ | |
BTI | -2.45% | 35.11 | $ | |
BCC | -0.9% | 138.29 | $ | |
BCE | -1.77% | 33.84 | $ | |
JRI | -0.6% | 13.3 | $ | |
BP | 0.28% | 32.46 | $ | |
VOD | -0.52% | 9.69 | $ |
Japan's top airline ANA reports first net profit in 10 quarters
Japan's biggest airline ANA on Monday posted a quarterly net profit for the first time in two and a half years as the sector recovers from the financial pain of the pandemic.
The relaxation of Covid-19 measures in Japan and various other countries increased demand for domestic and international travel, ANA said, with a cheaper yen also providing a boost.
In April-June, the company logged a net profit of one billion yen ($7.6 million), following nine consecutive quarters of losses beginning in January-March 2020, when the virus started to cause havoc worldwide.
However, it was still only around a tenth of the airline's net profit in April-June 2019, when Japanese tourism was booming.
Although fuel prices and other expenses were higher, "disciplined cost management" and efforts to rein in fixed costs led to a "significant improvement" in profitability, ANA said.
Revenue for the first quarter was up 76 percent on-year at 350 billion yen, but the airline still suffered an operating loss and maintained its annual net profit forecast of 21 billion yen.
Rival Japan Airlines on Monday logged a net loss of 19.56 billion yen for April-June, but echoed ANA in saying demand for flights was recovering as pandemic restrictions eased.
"There still exists various uncertain external environments including the Russia-Ukraine situation or price hike of raw materials including fuel," JAL warned.
The carrier kept its full-year net profit estimate at 45 billion yen, unchanged from the previous quarter.
D.Avraham--CPN