ANA FY03/2023 Results, International Cargo Sales Down 6.3

ANA Holdings (ANA/NH) announced its financial results for the fiscal year ended March 31, 2023, with international cargo business sales of 308.0 billion yen (-6.3% y-o-y) and a weight of 805,799 tons (-17.5% y-o-y). In international cargo, the weight of cargo transported fell below the previous year's level due to a decline in demand for automotive parts and a reduction in dedicated cargo flights as a result of strengthening efforts to capture passenger demand. On the other hand, the company worked to maintain high unit price levels by aggressively capturing high unit price cargoes such as large-sized special commercial products. In addition, the company is looking to expand its cargo business and agreed with NYK to acquire Nippon Cargo Airlines (NCA/KZ) in March of this year. In the next fiscal year, the company expects the supply-demand balance to ease for the time being due to an increase in passenger flights in line with a recovery in passenger demand and the easing of congestion in marine transport, but it also anticipates a recovery in demand for cargo, especially automobile-related parts. The company intends to maximize earnings by leveraging its strength as a combination carrier with both cargo and passenger services, and by moving flexibly in response to demand.