direct/All Nippon Airways Co Ld: Mid-Term Corporate Plan

TOKYO, 01.02. 2005 11:35

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direct/All Nippon Airways Co Ld: Mid-Term Corporate Plan

ANA Group Mid-Term Corporate Plan
Fiscal Years 2005 - 2007

TOKYO February 1, 2005 - ANA Group today announced its Mid-Term Corporate Plan for the three fiscal years commencing April 1, 2005 to March 31, 2008.

The new plan builds on the success of its predecessors, in particular the FY 2003-2005 Cost Reduction Plan, under which annual cost savings of 30 billion per annum were achieved within the present fiscal year, 2004, one year earlier than anticipated. Thanks to successful and quick implementation of this and other restructuring measures, ANA Group was able to resume dividend payments at the end of the Fiscal 2003 - for the first time in 7 years - and forecasts for the present fiscal year were revised upwards yesterday in expectation of greater revenue and profit.

These achievements come in spite of the continuing difficult operating environment exacerbated by high crude oil prices. ANA Group has been able to maintain profitable operations within these volatile market conditions, and at the end of the present fiscal year expects to announce its first profits on international operations in the 18 years since their inception.

The new plan holds the expansion and internationalisation of Haneda firmly within its sights. The three year period of fiscal 2005 - 2007 is a time for further groundwork in terms of increasing profitability and strengthening the ANA Group´s fiscal fitness on the "Road to Haneda".

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