The operator of Narita Airport, an international gateway to Tokyo, has posted a profit for the first time in four years. The good showing was helped by the easing of travel restrictions and the yen’s depreciation.
Narita International Airport Corporation has released its earnings results for fiscal 2023, which ended in March. Sales increased by over 65 percent year-on-year to 216.9 billion yen, or nearly 1.38 billion dollars.
The company reported 10 billion yen or 63.5 million dollars in net income. In fiscal 2020, it logged its first loss since it was privatized.
The easing of the COVID restrictions in Japan in 2022 and the historic weakening of the yen in the previous fiscal year helped dramatic recovery of tourist numbers from overseas. The total number of travelers grew by 70 percent to 35.25 million a year.
The president of the operating company, Tamura Akihiko, said the number of take-offs and landings at the airport and the number of air travelers are expected to recover to pre-pandemic levels this fiscal year.
He said the company will secure enough manpower and boost the functionality of the airport.