TOKYO, Reuters – Japan’s largest airline, ANA Holdings Inc, reported Tuesday a modest third-quarter operating loss of 100 million yen ($869 716). It also maintained full-year guidance despite Omicron virus.

The slightly-above-breakeven figure for the quarter ended Dec. 31 – its first time in the black in eight quarters – was better than the average 16.5 billion yen operating loss forecast by five analysts polled by Refinitiv.

It exceeded ANA’s goal of returning to operating profit for the fourth quarter.

ANA forecasted an operating loss in the 12-months to March 2022 of 125 billion yen. This compares to the 130.6 billion loss forecasted by Refinitiv’s 11 analysts.

According to the airline, passenger demand for domestic flight services has increased significantly in October since Japan ended a state of emergency related to a pandemic.

ANA saw record revenues from air cargo and cost reductions in the third quarter. However, international passenger travel is still a challenge due to restrictions at borders.

It faces headwinds in the next quarter from high COVID-19-related case numbers on the domestic marketplace.

Japan has expanded its coronavirus control areas to 70 percent of the country as it tries to stop a flood of COVID-19 patients.

These curbs are in effect until February 20, giving regional governors the power to request that bars and restaurants reduce their hours of operation and stop selling alcohol.

According to a survey by the government, the index that gauges Japanese consumer confidence declined 2.4 points from August to January. It was the lowest reading since August. The drop is likely due to Omicron-related record infections.

($1 = 114.9800 yen)