ANA HOLDINGS Financial Results
for the Nine Months Ended December 31, 2025
- ・Due to strong international and domestic passenger demand, ANA HOLDINGS INC. achieved record-high revenue of 1,877.3 billion yen and operating income of 180.7 billion yen in the third quarter.
- ・International passenger services delivered strong year-over-year growth in both passenger numbers and revenue, driven by inbound travel to Japan and outbound leisure demand.
- ・Domestic passenger services reported increased passenger numbers and revenue compared to the previous year, by proactive capture of leisure demand and effective fare level adjustments.
- ・International cargo volumes grew year-over-year, supported by enhanced efforts to capture cargo from Asia to North America and by recovering cargo demand from China to North America via Japan.
- ・The ANA Group continues to closely monitor the impact of yen depreciation and other macroeconomic factors, maintaining disciplined cost management to support achievement of its annual plan.
TOKYO, Jan. 30, 2026 - ANA HOLDINGS INC. (hereinafter "ANA HD") today reported its financial results for the nine-month period ended December 31, 2025, demonstrating strong operational performance.
"Our record revenue and solid growth over the nine-month period clearly demonstrates the effectiveness of our strategic initiatives," said Kimihiro Nakahori, Executive Vice President and Group Chief Financial Officer. "We are focused on building on this momentum to capture travel and cargo demand and deliver sustainable value to our passengers and stakeholders."
- 1. International Passenger Service, All Nippon Airways (ANA)
- ・Passenger numbers and revenue surpassed prior-year levels, driven by strong inbound demand to Japan and outbound leisure travel. European routes remained strong, reinforced by the launch of three new routes — Haneda to Milan, Stockholm, and Istanbul — in the second half of fiscal year (FY) 2024.
- ・ANA expanded its network by increasing flight frequencies on key routes, including the Narita= Hong Kong route in October, followed by the Haneda=Hong Kong route, the Narita=Perth route and the Narita=Mumbai route in December.
- ・Service enhancements included the introduction of popular video streaming services into in-flight entertainment in December, as well as a renewal of in-flight wine selection, improving passenger experience.
- 2. Domestic Passenger Service (ANA)
- ・Despite the effect of severe weather conditions, passenger numbers and revenue exceeded prior-year levels. This was driven by its efforts to stimulate and capture early leisure demand.
- ・ANA increased flight frequencies on some routes, including the Haneda=Shin-Chitose route and the Haneda=Fukuoka route beginning in October.
- ・In December, ANA introduced the "ANA FURUSATO JET," a specially designed aircraft promoting regional revitalization. Guided by the "Connecting Hometowns" concept, the initiative strengthens collaboration with local governments to encourage travel to regional areas.
- 3. Cargo Service (ANA)
- ・International freight carried increased year-over-year due to stronger demand for shipments from Asia to North America. However, revenue declined year-over-year, reflecting reduced automotive-related cargo and e-commerce demand. Cargo demand from China to North America via Japan, previously declined due to the U.S. tariff policies, is showing signs of recovery.
- ・ANA adjusted freighter routes and capacity in response to demand fluctuations. On North American routes, ANA further enhanced profitability by continuing to operate charter flights for other carriers.
- 4. Nippon Cargo Airlines (NCA)
- ・NCA experienced a decline in trilateral cargo demand from China to North America via Japan, due to the U.S. tariff policies, though demand has begun to recover. Concurrently, since October, NCA has proactively secured strong cargo demand from Asia to Europe and North America.
- ・NCA launched the Narita=Frankfurt route in September. From October, extra flights were operated on key routes, including Narita to Hong Kong and Narita to Los Angeles, to optimize revenue.
- ・NCA began code-sharing with ANA on European and North American routes in October and will continue strengthening collaboration to enhance the Group's cargo business and deliver high-quality, competitive services.
- 5. Peach・AirJapan
- ・Peach reported increased passenger numbers year-over-year, though revenue declined, primarily due to intensified price competition on international routes during the first half of the fiscal year. To capture leisure demand, Peach increased flight frequencies on its Kansai to Gimpo route in December. Service enhancements made in December included app-based domestic flight check-in and the introduction of a new "Auto Check-in" feature, automating the check-in process with pre-configured settings.
- ・AirJapan achieved year-over-year growth in both passenger numbers and revenue, driven by inbound demand to Japan and effective leisure-focused sales campaigns. Following the introduction of its third aircraft, AirJapan increased flight frequencies on the Narita=Singapore route to daily service in November and operated additional seasonal flights on the Narita=Incheon route in December. To further enhance passenger convenience, AirJapan enabled video streaming and other features via its in-flight Wi-Fi service.
- 6. Others
- ・Other revenues within the Air Transportation business reached 140.3 billion yen, up 1.8% year-over-year (137.8 billion yen). This revenue includes contributions from the mileage program, in-flight sales and maintenance contracts, among others.
Airline Related, Travel Services and Trade and Retail
- 1. Airline Related
- ・Net sales and operating income both surpassed prior year levels, driven by the expansion of airport ground handling services for foreign airlines and increased international cargo volumes.
- 2. Travel Services
- ・Overseas travel transactions increased, notably to Hawaii and Europe. Conversely, domestic travel experienced a decline in transaction volume for its core "Dynamic Package" products, despite robust sales of components such as "ANA Travelers Hotel."
- ・Although revenue declined year-over-year, the business achieved an operating profit, attributed to stringent cost management and other efficiencies.
- 3. Trade and Retail
- ・Revenue and operating income both surpassed prior year levels, supported by strong performance from the souvenir wholesaler "FUJISEY," significantly boosted by the positive impact of Expo 2025 Osaka, Kansai. Additional growth came from increased transaction volumes in food businesses, particularly bananas, and in security-related equipment for logistics companies.
Outlook for FY2025 (April 2025 - March 2026)
- ・There are no changes to the consolidated financial forecast announced on October 30, 2025.
- Contact:
ANA Corporate Communications, TEL +81-3-6735-1111, publicrelations@ana.co.jp
About ANA HOLDINGS
ANA HD was established in 2013 as the largest airline group holding company in Japan, comprising 73 companies. It offers three distinct airline brands: ANA, Peach, the leading LCC in Japan, and AirJapan, launched in 2024 for international routes covering Asia.
ANA's legacy of superior service has earned SKYTRAX's 5-Star rating every year since 2013, making it the only Japanese airline to win this prestigious designation for 13 consecutive years.
In 2025, ANA was honored with FlightGlobal's Executive Leadership: Asia-Pacific Award for its visionary leadership and strategic growth.
ANA is also a four-time recipient of the ATW Airline of the Year award, recognized for excellence in aviation.
ANA HD has been selected as a member of the Dow Jones Sustainability World Index list for eight consecutive years and the Dow Jones Sustainability Asia Pacific Index list for nine consecutive years.
For more information about ANA and ANA HD, please visit: https://www.ana.co.jp/group/en/
