Kansai Airports Logs 1st Profit Fall since Privatization

Economy

Osaka, June 10 (Jiji Press)--Kansai Airports on Wednesday reported its first consolidated operating profit fall since the private company took on the operating rights of western Japan airports in 2016.

The profit dropped 8 pct from the previous year to 52.4 billion yen for the year that ended in March, reflecting a plunge in domestic and international passengers in and after February due to the spread of the new coronavirus.

The company operates Kansai International Airport and Osaka International Airport, both located in Osaka Prefecture. A subsidiary runs Kobe Airport in the neighboring prefecture of Hyogo.

“Aviation demand has fallen all the way down. We don’t know when the situation will settle,” Chief Executive Officer Yoshiyuki Yamaya told a press conference.

Operating revenue fell 2 pct to 215.8 billion yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press