ANA Says It’s Concerned Trump Policies May Slow Global Growthby and
Carrier watching new U.S. President Trump’s policies carefully
Forecasts sales drop in fiscal year on lower fuel surcharges
ANA Holdings Inc., owner of Japan’s biggest airline, said it’s concerned the policies of U.S. President Donald Trump may slow global growth, which in turn affects airline passenger traffic.
“We have to consider the effect on logistics and movements if trade frictions arise as in the past,” Yuji Hirako, an executive vice president told reporters in Tokyo Friday. “The possibility of a slowdown in global growth is emerging. We need to spend time observing Trump’s government and policies.”
Trump told business leaders this week he would impose a "very major" border tax on companies that move jobs outside the U.S. He also made good on his campaign pledge to save American jobs by pulling the world’s biggest economy out of a long-planned Trans-Pacific Partnership, which would’ve covered 12 nations and about 40 percent of global gross domestic product. U.S. intelligence officials briefing Trump have painted a dreary next half-decade that will see waning American power amid slow growth.
The top airline of the world’s third-largest economy and its key hub at Haneda in Tokyo -- the world’s fourth-busiest airport in 2015 -- are significantly exposed to the swings in the global economy.
ANA, which owns the All Nippon Airways carrier, on Friday reiterated a forecast for an almost 3 percent drop in sales this fiscal year due to a reduction in fuel surcharges.
The company is seeking 25 billion yen in non-fuel cost reductions this fiscal year to help offset a dip in sales due to the removal of the surcharge in April, according to the carrier. ANA is on line to meet the savings target, Yuji Hirako, an executive vice president, told reporters in Tokyo Friday.
A record 24 million visitors came to Japan last year, a 22 percent jump from a year earlier, with China making up the largest group with 6.4 million, according to figures from the Japan National Tourism Organization. Haneda is one of the gateways to Japan.