All Nippon Airways Co., Ltd

ANA Group Mid-term Corporate Plan, fiscal years 2004 - 2006

Tokyo (ots) - The ANA Group, consisting of ANA (All Nippon Airways), Air Nippon (ANK), Air Nippon Network (A-Net) and Air Japan, today announced its Mid-term Corporate Plan for the three year period commencing April 1, 2004 through March 31, 2007. The next three fiscal years will see the Group further pushing forward with measures implemented under the previous Mid-term Corporate Plan (FY 1999-2002), and with those introduced in response to changes in the operating environment brought about by unforeseen events such as the September 2001 terrorist attacks in the United States, and the outbreak of SARS. These measures include the continued rationalisation of the ANA fleet and network, and the continued implementation of the previously announced Three Year Cost Reduction Plan for FY2003-2005, which aims to shave 30 billion yen off costs. The new Mid-term Corporate Plan is set against the background of a still sluggish Japanese economy and increasingly fierce competition within the domestic transportation sector. However, in spite of this and the very negative impact of SARS and the Iraq war at the start of the present financial year, the ANA Group intends to make its first dividend payment in seven years at the end fiscal 2003. This is the culmination of cost savings, principally in the area of personnel costs, fare policy in the domestic sector and the swift return of international passenger demand. The first of the three years covered by the Mid-Term Strategy, fiscal 2004, will see the increase of services between China and Japan and the creation of short-haul Asian services at Central Japan International Airport when it opens in February 2005, as part of the Group's international strategy. Domestically, from April this year ANA Group airlines will fly under a unified ANA brand, and in December move to a new terminal at Haneda Airport, both measures designed to improve passenger convenience. The corporate plan for fiscal 2004 was announced on January 24. With this new Mid-term Corporate Plan, the ANA Group intends to build an increasingly solid base as it looks forward to the expansion of Haneda Airport in 2009 and the new opportunities that increased capacity and the start of international operations will bring. In outline, the Plan is as follows: 1 Positioning The ANA Group aims to be Asia's top airline in terms of quality, customer satisfaction and value creation. 2 Strategy Secure competitive advantage in terms of costs a. Reform the cost structure and reduce costs by 30 billion yen during the period of fiscal 2003 - 2005, thus establishing a firm, profitable base from which the Group can respond rapidly to changes in the operating environment, and maintain competitive advantage. b. Minimize the financial risk from a potential economic downturn or fall in demand by restructuring the fleet to one centred on medium-sized and small aircraft deployed with greater frequency to ensure flexibility. Large aircraft will continue to be deployed in line with demand. c. Reform personnel costs across the Group, in all areas of operations, to levels that create a competitive edge. d. Utilise the economies of scale, joint purchasing and bargaining power of Star Alliance, in conjunction with our own marketing strategy, eg, in the areas of fuel purchasing, e-ticketing and other Star standardised products, to secure increased convenience and efficiency. Improve marketing and sales strength a. International Expand the Chinese network; increase the global network through Star Alliance; remove the international/ domestic distinction in the deployment of medium sized and small aircraft to facilitate the development of domestic and short-haul Asian operations at Central Japan International Airport; make short-haul international travel as easy as domestic travel from the customer's point of view. b. Domestic Secure greater passenger convenience and amenity by: uniting under one brand; simplifying the schedule; increase propeller aircraft operations; promoting internet bookings; improving connection times between Star Alliance partner international flights and ANA domestic flights. Differentiate ANA from competitors Stressing the key words 'Simple','Convenient' and 'Individual' introduce new products and innovations that increase customer satisfaction. In turn this will improve profitability, raise the ANA brand value, and set ANA apart from its rivals. 3 Management Aim By matching aircraft type with demand, improving profitability, and reducing costs, the following consolidated ANA Group airline results are forecast. unit: 100 million yen i% denotes year-on-year comparisonj 2003 2004 2005 2006 Operating Profit 210 500 630 740 Recurring profit 140 270 500 610 ASK Domestic - 96% 101% 101% ASK International - 102% 100% 101% This information is provided by RNS The company news service from the London Stock Exchange ots Originaltext: All Nippon Airways Co Ld Internet: www.newsaktuell.ch/f Contact: Tetsuya Sudo 0081 35756 5661

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