ANA Able to Manage High Fuel Costs, Travel Demand Still Strong

ANA Holdings’ full-service passenger airline operations should continue to dominate and underpin the group’s revenue and profit. Management is focused on expanding its international passenger services as it reestablishes its international trunk routes post-coronavirus. It expects Japan’s inbound tourism to continue to outpace outbound growth and anticipates that it will also need to provide services to inbound tourists to secondary locations in Japan beyond the current key portals of Tokyo and Osaka. ANA focuses on a dual-brand strategy with Peach, its low-cost carrier product, to maximize aircraft utilization and improve its market positioning.