=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SFGate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2004/07/30/f= inancial1302EDT0138.DTL --------------------------------------------------------------------- Friday, July 30, 2004 (AP) JAL trims loss; ANA swings to black (07-30) 10:02 PDT TOKYO (AP) -- Japan's two largest airlines, JAL and ANA, reported improved results in the April-June quarter on Friday as business recovered from the same period a year ago, when traffic was hit by concerns over SARS and the war in Iraq. Japan Airlines System Corp. (JAL) Japan's top carrier, known as JAL, nearly halved its net loss to 40.7 billion yen ($363.4 million) in the April-June quarter from the same period last year as business and international air travel recovered from a slump. The company -- formed through the merger of Japan Airlines Co. and Japan Air System Co. in October 2002 -- reported a first-quarter loss of 77.2 billion yen last year after the industry was hit by a drop in demand for air travel because of the SARS virus and the Iraq war. The flagship carrier said that while international travel has since recovered, fuel costs had pushed up operating costs. The company posted a group operating loss of 30.2 billion yen ($269.6 million) on revenue of 479.3 billion yen ($4.28 billion) in the three months to June. JAL said that steady business travel had helped boost international passenger traffic as revenue in the sector rose almost 60 percent to 56.2 billion yen ($501.8 million). While domestic passenger traffic had dropped by almost 6 percent to 10.5 million passengers, the company said yield per passenger had improved, helping revenue rise by 2.9 percent to 4.2 billion yen ($37.5 million). The airline left unchanged its earning estimates for the full fiscal year through March 2005 at a group net loss of 89 billion yen ($794.6 million) and 1.956 trillion yen ($17.46 billion) in revenue. All Nippon Airways (ANA) TOKYO (AP) -- All Nippon Airways said Friday it returned to profitability in the April-June quarter thanks to cost cutting efforts and a recovery in air travel demand. Japan's No. 2 airline, known as ANA, reported a group net profit of 2.43 billion yen ($21.70 million), a reversal from its 18.32 billion yen ($163.57 million) loss in the first quarter last year. The company said that air travel had recovered after the industry was pummeled early last year by the effects of the SARS outbreak and the U.S.-led war in Iraq. It said North American and European routes performed particularly well in the first quarter. "Given the current climate of rising oil prices and a three-month period in which demand is traditionally low, we have again seen the fruits of our efforts to curb costs and increase revenue," said ANA President and CEO Yoji Ohashi. Revenues rose 15 percent to 297.20 billion yen ($2.65 billion) from 259.= 63 billion yen ($2.32 billion). ANA continues to predict a 43 percent fall in group net profit to 14 billion yen ($125 million) for the fiscal year ending March 31, 2005. It posted a profit of 24.8 billion yen ($225 million) in the last fiscal year. Ohashi said the airline aims to turn a profit on its international operations for the first time in this fiscal year as an improving Japanese economy would help boost business travel. ---------------------------------------------------------------------- Copyright 2004 AP