OREANDA-NEWS. August 21, 2012. ANA Group, Japan's largest airline group, today reported its consolidated financial results for the first three months (April – June) of fiscal year 2012.

Operating revenues during the period rose by 12.5 per cent to USD 4.326 million (\343.1 billion), helping ANA return to profitability for the quarter. Operating income reached USD 139 million (\11.0 billion) compared with a loss of USD 102 million (\8.1 billion) the previous year, while recurring profit was USD 58 million (\4.6 billion), USD 182 million (\14.4 billion) loss, and net income for the period was USD 7.6 million (\0.6 billion), USD 105 million (\8.4 billion) loss.

Passenger revenues and numbers grew on both domestic and international services compared with the same period in 2011 when demand was significantly affected by the Great East Japan Earthquake. The increase in traffic levels also reflected measures to stimulate demand in domestic markets through the introduction of new affordable fares and the launch of new international routes.

Although the Japanese economy continues to recover gradually, ANA is facing a number of headwinds in the shape of a slowing world economy, the growing government debt crisis in Europe and increased competition, both through the liberalization of Japanese aviation and slot expansion at Tokyo's airports and the start of full-scale operations by Low Cost Carriers in Japan.

In response to this, ANA is expanding its routes as a network carrier and continue the cost-competitive measures as set out in the Group Corporate Strategy for FY2012-13.

The following results refer to the three month period April – June, 2011. Results for the first quarter of fiscal year 2011 are given for reference only and appear in the right side of each table.