A record consolidated revenue of almost 350 billion yen, and a record net income of 87 billion yen for the first quarter of fiscal year 2007, ended June 30 has been reported by ANA Group. ANA Group consists of…
A record consolidated revenue of almost 350 billion yen, and a record net income of 87 billion yen for the first quarter of fiscal year 2007, ended June 30 has been reported by ANA Group. ANA Group consists of airlines, travel, and other businesses, and at the end of the last financial year also owned and operated a chain of hotels.
Within the airline segment, increased revenues were posted for both domestic and international operations, compared with the same period in the previous year, despite greater competition in the aviation market.
The disposal of ANA/s hotel business on June 1 this year and its removal from the balance sheet had no negative impact on this quarter/s consolidated revenue, which in fact exceeded that of 2006. The extraordinary gain arising from the disposal of the hotels contributed to a record net profit, allowing ANA to improve its financial base and reducing its debt to equity ratio to 1.3 times.
However, the high price of jet fuel added approximately 11.1 billion yen to costs, despite ANA/s best efforts to curb them elsewhere, squeezing recurring profit and operating Income.
Consolidated Financial Performance unit: billion yen (rounded down)
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
