The operator of Japanese airline ANA says it has posted its first net profit in three years. Officials say an easing of travel restrictions around the world boosted demand for international travel.

Net profit at ANA Holdings in fiscal 2022 came to nearly 90 billion yen, or about 670 million dollars.

It's a clear turnaround from a net loss of 1 billion dollars in the previous year, when the pandemic still weighed heavily on the travel industry.

Sales stood at about 12.7 billion dollars. That's up 67 percent in yen terms year on year. Revenue from international flights shot up more than 500 percent compared to the previous year.

But ANA Holdings is forecasting a smaller net profit for the fiscal year that runs until next March, due to a reduction in government subsidies for the airline industry. The officials put the amount at nearly 600 million dollars.