ANA sticks to forecast despite grounding of 787s

(AP) Japan's All Nippon Airways is sticking to its profit forecast despite flight cancellations caused by the worldwide grounding of Boeing 787 jets.

ANA, which is currently the biggest customer for the Dreamliner with 17 of the jets in its fleet, said Thursday that 459 domestic and international flights were canceled this month because of the grounding, causing about 1.4 billion yen ($15.4 million) in lost revenue. It said it was unclear when the aircraft will be cleared by regulators to fly again.

All 50 Boeing 787s in use around the world were grounded earlier this month after a lithium-ion battery in a 787 operated by ANA overheated.

ANA is projecting a 40 billion yen profit for the fiscal year through March 2013, up nearly 12 percent from the previous year.