All Nippon Airways grew its international cargo revenue by 5.9% to ¥125.0 billion (US$1.1 billion) for the financial year ending on March 31, 2019, according to financial results released by ANA Holdings.

ANA said that, although there was a drop in cargo demand from China in the fourth quarter of the financial year, the first three quarters were strong due to robust demand, particularly for automotive parts and electronic components bound for North America and Europe.

ANA carried a total of 913,000 tonnes of international cargo during the year, a year-on-year drop of 8.1%, but revenue still increased because of enhanced yield management and utilization of charter flights on other carriers.

Starting from the winter schedule, ANA made efforts to improve profitability by downsizing its network from the Okinawa hub and began operating direct flights for certain routes.

Domestic cargo revenue decreased by 10.6% to ¥27.4 billion (US$245.6 million), while domestic tonnage also fell by 9.8% to 393,000 tonnes.

As a whole, ANA Holdings reported ¥2.1 trillion (US$18.4 billion) in operating revenue and ¥165.0 billion (US$1.5 billion) in operating income, both setting new records for the fourth consecutive year.