TOKYO: Japan's largest airline ANA Holdings on Monday (Oct 31) swung to a half-year profit and raised its full-year earnings target as a relaxation of COVID-19 border measures fosters a recovery in travel demand.
ANA lifted its operating profit forecast to 65 billion yen (US$440 million) in the 12 months through Mar 31, up from earlier guidance of 50 billion yen, as it recovers from a 173 billion yen loss the prior year.
That is lower than the consensus forecast for operating profit of 70.4 billion yen, based on a Refinitiv poll of 12 analysts.
The company reported an operating profit of 31.45 billion yen in the six months through Sep 30, compared to a loss of 116 billion yen a year earlier, it said in a statement.
Japan reopened its borders to visa-free travel from tourists earlier this month and removed a cap on daily arrivals after more than two years of pandemic-related isolation.