ANA cites terrorism, strong yen and earthquakes as Q1 profit tumbles 20.7%

Tokyo

THE parent company of Japan's All Nippon Airways on Wednesday cited "terrorist incidents" in Europe and earthquakes at home for helping to drag its April-June net profit down more than a fifth.

ANA Holdings posted a net profit of 6.6 billion yen (S$87.5 million) for its fiscal first quarter, 20.7 per cent lower than the same period last year, adding that a strong yen also took a bite out of its bottom line.