November 1, 2017 / 6:17 AM / in a year

Japan's ANA Holdings raises profit outlook as strong economy boost demand at home

TOKYO, Nov 1 (Reuters) - ANA Holdings Inc, Japan’s biggest airline by revenue, raised its full-year operating profit forecast by almost 7 percent on Wednesday as the stronger domestic economy boosts travel demand.

ANA raised its outlook for operating profit to 160 billion yen ($1.40 billion) for the year to March 31 from an earlier forecast of 150 billion yen.

However, that was still below an average operating profit forecast of 169.4 billion yen from 11 analysts surveyed by Thomson Reuters.

Consumer spending in Japan this year has strengthened amid a tight labour market. Retail sales in September gained 2.2 percent.

ANA’s local rival Japan Airlines also raised its full-year profit outlook on Tuesday, citing the improving economy and lower-than-expected fuel costs. ($1 = 113.9200 yen) (Reporting by Tim Kelly; Editing by Kim Coghill)

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