All Nippon Airways today said that its six-month net profit soared 51 per cent as a jump in inbound tourism boosted its international business, while falling oil prices also help airlines' finances.
ANA Holdings, the parent company of All Nippon Airways, said its profit in the April-September period was 53.97 billion yen (USD 448 million), while revenue rose 6.6 per cent from a year ago.
The airline got a big boost from an expansion of landing slots at Tokyo's Haneda airport, while a weak yen has been drawing record numbers of tourists to Japan.
Falling oil prices have also helped the carrier's bottom line -- fuel is often an airline's single-biggest expense.
ANA this summer threw a lifeline to struggling domestic rival Skymark Airlines, Japan's third-biggest airline, which flies on domestic routes.
Skymark filed for bankruptcy protection in late January in the face of potentially massive penalties linked to a cancelled USD 2.2 billion jet order with Airbus.
The Skymark deal would expand ANA's landing slots and give it the upper hand in setting airfares.
In August, Skymark creditors voted in favour of a rescue plan led by ANA, edging out a rival bid that included US carrier Delta.
