Summary ANA saw record revenue and profitability in FY2023, driven by strong travel demand and cost management initiatives.
International passenger revenue surpassed domestic for the first time, with 69.4% more passengers YoY.
Low-cost carrier Peach Aviation also boomed, with revenue climbing 53% and passenger load factor soaring to 86.7%.
One of the last regions in the world to fully open for travel was Northeast Asia, where countries including China, Taiwan, South Korea and Japan lagged the globe by around 12 months in fully reopening borders. Once the restrictions were lifted, international travel took off sharply, particularly in Japan, much to the delight of both Japan Airlines and All Nippon Airways.
Some record-breaking numbers
Last Friday, All Nippon Airways released its financial results for the 12 months ending March 31, 2024 (FY2023), revealing record operating income and a first-time operating profit margin of over 10%. Parent company ANA Holdings Inc. attributed these record-breaking results to strong travel demand and the airline’s sustained application of cost management initiatives.
Photo: Shutterstock | alphonsusjimos
Consolidated operating revenue rose by 20% year-on-year (YoY) to reach Y2.1 trillion ($13.26 billion), leading to a record operating income of Y208 billion ($1.3b) while net profits nearly doubled to Y157 billion ($991 million). Passenger demand continued to recover despite concerns about the geopolitical issues in Ukraine and the Middle East and their impact on airline operations. In its announcement, ANA added:
All Nippon Airways Earns Record $1.3 Billion Profit in FY2023
