All Nippon Airways parent ANA Holdings has posted a 56.2% decline in net income to ¥18.8 billion ($183 million) for the full 2013 financial year ended March 31, 2014. The group cited the weakness of the Japanese yen that pushed fuel costs 22% higher as the main reason for the decline. Revenue rose by 7.9% however to a record high of ¥1.6 trillion. Operating costs rose 11.3% to ¥1.54 trillion, while and operating income dropped by 36.4% to ¥66 billion.
The airline group carried 3.5% more passengers during FY2013 to 49 million, although loan factor dipped by 0.5 percentage points to 66.8%. ASKs rose by 6.5% to 102.5 billion, with RPKs up by 5.5% to 68.5 billion.
ANA warned that continued high fuel costs, weakness in the yen and tough competition will impact results for the current fiscal year.