All Nippon Airways (ANA) reported cargo growth in fiscal year 2024, driven by demand from Asia and North America.
The Japanese airline said its cargo traffic volume reached 3.61 billion tonnes in fiscal year 2024, which ended in March, up 4.3% from the 3.46 billion tonnes the year prior.
Freight carried for the period also increased 3.6% to 704,000 tonnes, from 679,000 tonnes during the comparable period in 2023.
[Source: ANA]
"For international cargo service, both freight carried and revenues increased from the previous year due to strong demand for tri-nation trade from Asia and China to North America, as well as enhanced transportation of high value-added commercial products, etc.," ANA said as it released its financial results for the year ended March 31, 2025.
The cargo carrier noted that for the route network, ANA worked to ensure profitability by flexibly adjusting routes of freighter and its capacity based on demand trends.
ANA also operated charter flights for other airlines starting in August.
"To provide additional capacity at Narita Airport, new cargo facilities started service in October," the Japanese carrier said, adding that apart from improving work efficiency by consolidating facilities and introducing unmanned vehicles, ANA also worked to improve cargo quality by expanding temperature-controlled facilities and taking other measures.
For fiscal year 2024, ANA Group recorded total revenue of 2,261.8 billion yen (about US$15.88 billion), a record high surpassing the previous fiscal year by 205.9 billion yen.
Operating income was 196.6 billion yen, 16.6 billion yen higher than the revised and raised full-year forecast in February.
Looking ahead, ANA as a group is forecasting revenue of 2,370.0 billion yen (approximately US$16.64 billion), which it said is the "highest among the past" due to continued strong passenger demand and high unit price levels.
Operating income is projected at 185.0 billion yen (about US$1.3 billion). The company expects steady profit growth, excluding the effects of exemptions, airport fee subsidies, fuel adjustments, and engine compensations.
ANA also plans to achieve ordinary income of 175.0 billion yen (approximately US$$1.23 billion) and net income of 122.0 billion yen (approximately US$856.4 million), the same amount as the targets outlined in the "Mid-Term Corporate Strategy for FY2023- 2025."
"We will make continuous efforts in order to return to a growth trajectory and further enhance profitability," ANA said.
Kimihiro Nakahori, executive vice president and group chief financial officer, thanked the ANA team for making the record revenue possible.
"These results underscore the efforts we have undertaken over the past several years and now form an integral part of our mid-year strategy to strategically position the ANA Group for sustained growth in the years ahead," he said.
Earlier, ANA also announced it will offer its cargo space through WiseTech Global's CargoWise platform starting April 11, 2025, to expand the carrier's global sales reach.
