ANA sees profit in April-June for 1st time in 3 yrs on demand pickup

ANA Holdings Inc. on Monday reported a profit in the three months ended in June for the first time in three years as travel demand began to recover from the COVID-19 pandemic.
The major Japanese airline said it returned to the black for the April-June quarter with a net profit of 1.0 billion yen ($7.54 million), a reversal from a net loss of 51.16 billion yen it logged a year ago. Sales rose 76.2 percent to 350.42 billion yen.
Japan Airlines Co. the same day also reported improved results for the three months, with its net loss shrinking to 19.56 billion yen from 57.92 billion yen a year earlier. Sales more than doubled to 268.90 billion yen.
Both companies maintained their earnings forecasts for the current business year through March.
ANA projected a net profit of 21 billion yen on sales of 1.66 trillion yen, while JAL said it expects to post a net income of 45 billion yen on sales of 1.39 trillion yen.

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