OREANDA-NEWS.  February 2, 2012. ANA Group, Japan's largest airline group, today reported its consolidated financial results for the first nine months of fiscal year 2011.

Operating revenues for the first nine months of the fiscal year 2011 rose three per cent to USD 13.8 billion (\1,069.8 billion), while operating income increased by 17.3 per cent to USD 1.2 billion (\91.1 billion) and recurring profit by 22.5 per cent to USD 918 million (\71.4 billion). Net income for the period was USD 433 million (\33.7 billion) compared with USD 482 million (\37.5 billion) the previous year.

Although economic conditions domestically and internationally remain challenging, ANA is working strenuously to stimulate demand, reduce costs and improve its competitiveness as a network carrier and in October became the first airline in the world to operate the new Boeing 787 Dreamliner. As a result of these different initiatives and the strength of the yen, ANA has revised upwards its forecast for operating income and recurring profit for fiscal year 2011, although operating revenues are expected to remain flat.

Japan's economy continues to recover gradually from the Great East Japan Earthquake on March 11 last year but the outlook globally remains uncertain owing to rising oil prices, the government bond crisis affecting the Eurozone and exchange rate fluctuations.  ANA has responded to this challenging economic environment by working to stimulate demand for both its domestic and international routes, and has rolled out approximately USD 386 million (\30.0 billion) in emergency cost improvement measures to minimize the impact on revenues. From November 1 last year, ANA began flying the Boeing 787, as a world's first regularly scheduled service, and from January 21, began service on a new international route, Haneda-Frankfurt, further enhancing its competitiveness as a network carrier.