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ANA Holdings set for a record net loss
Japan airline group ANA Holdings Inc posted a net loss of 309.58 billion yen ($2.96 billion) during th April to December period, with revenue down 66.7%.
It is a record net loss for the parent of All Nippon Airways.
"We have to carefully watch developments, including whether (Japan’s) emergency declaration will be lifted, said ANA Executive Vice President Ichiro Fukuzawa said during a press briefing.
There is still much uncertainty ahead, especially with the indecision on hosting the Tokyo Olympic Games this year.
"We are neither overly conservative nor optimistic about the outlook" for the current year, he said.
Revenue from international flights plunged by 95.9%, while domestic flight sales revenue was down more than 70%.
Fukuzawa expects the pace of recovery to be slower than previously forecast
ANA has secured loans and has reduced its fleet size.
"As announced in our structural reform plan, we will continue to cut fixed costs," he said.
Written by Ray Montgomery, Asia Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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