Combined strengths of all officers and employees in order to return to profitability and restore our growth.
We would like to thank all our shareholders and investors for your support of the ANA Group. I am Koji Shibata. I have been appointed as President and CEO of ANA HOLDINGS INC. on April 1 of this year.
In the fiscal year ending March 2022, our Group worked to maximize capture of passenger demand, which has been gradually recovering throughout the year from the effects of COVID-19, and the highly vigorous cargo demand, however, as a result of the spread of the Omicron variant reducing passenger demand by a degree that far exceeded our initial expectations for the fourth quarter, our operating revenues increased by 40% to 1,020.3 billion yen.
In terms of expenses, thanks to our thorough cost management particularly significant reductions in fixed costs, we managed to hold operating expenses to 1,193.4 billion yen, comparable to the previous period, despite having significantly expanded the scope of our flights through the full year. As a result of these efforts, our net loss attributable to parent company shareholders was 143.6 billion yen.
The world has yet to fully emerge from the COVID-19 pandemic, but passenger demand for domestic flights has been recovering steadily following the conclusion of semi-state of emergency COVID-19 measures, and we expect that demand will return to pre-COVID levels within the first half of the year, as more and more people become vaccinated. In terms of international flights, although Japan still maintains entry restrictions that are stricter than those of most of foreign countries, future easing and lifting of these restrictions is expected to result in steady recoveries in demand. By certainly capturing passenger demand as it recovers, our Group intends to achieve an operating surplus in the fiscal year ending March 2023.
This December the Company will mark the 70th year anniversary since establishment. We intend to ensure that this year marks the first year of new growth for our Group, and that we become an even stronger airline group by bringing together the various strengths and capabilities of our officers and employees. We convey sincerest thanks to all our shareholders and investors for your continuous support and patronage of the ANA Group.
President and CEO