Japanese ANA profits double, JAL drop

(MENAFN) Japanese carrier ANA said its annual net profit more than doubled, while rival Japan Airlines (JAL) saw its bottom line worsen as the weak yen undercut lower fuel prices, Arab News reported.

ANA Holdings, the parent company of All Nippon Airways, said the soaring profit came after logging record revenue as an expansion at a downtown Tokyo airport allowed it to run more overseas routes.

ANA recorded a net profit of USD330 million, up 107.8 percent from the previous year. Meanwhile, Japan Airlines (JAL) said its fiscal-year net profit sank 10.3 percent to USD1.23 billion.

For the fiscal year ending March 2016, ANA predicts net profit to grow by 32 percent to reach USD432.3 million, while JAL is bracing for a 3.4 percent drop to USD1.19 billion.