ANA posts 1st net profit in 3 years on Japan's relaxed border control

ANA Holdings Inc. said Thursday it posted a net profit of 89.48 billion yen ($669 million) in the year ended March, returning to the black for the first time in three years as Japan's relaxed COVID-19 border control measures boosted travel demand. The net profit marked a turnaround from 143.63 billion yen in loss the previous year as sales surged 67.3 percent to 1.71 trillion yen, the parent of All Nippon Airways said. For the current fiscal year ending March next year, the company expects net profit to fall 10.6 percent to 80 billion yen on sales of 1.97 trillion yen, up 15.4 percent.