ANA Group released Friday its consolidated financial results for the three months immediately following the Great Eastern Japan Earthquake In the period April – June 2011. ANA made a net loss of JPY8.4 billion compared to a JPY5.2 billion loss a year earlier. The results during the period reflect the severe disruption caused by the magnitude 9 quake which triggered in a significant decline in passenger numbers.Immediately following the disaster, there was a large decline in demand on both domestic and international routes, bottoming out in April before recovering towards the end of the quarter as consumer confidence returned. ANA sought to minimise the impact of this with a series of initiatives to stimulate demand and reduce costs through a JPY30 billion efficiency programme. It was also able to sustain overall operating revenues which dropped by just -0.6% yoy, by partially reducing regular services and down-sizing aircraft on many routes. The airline was also instrumental in the relief effort, deploying special flights to Sendai, Fukushima and Yamagata.Yet despite the steady recovery of the Japanese economy during the period, the short-term outlook remains unclear due to factors including restrictions on electric power distribution, the nuclear power shutdown, and a steep rise in crude oil prices.
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