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ANA Holdings set to post biggest ever net loss
ANA Holdings Inc. is set to post a record annual net loss and will offload up 30 large jets.
It expects to book a net loss of about 500 billion yen ($4.8 billion).
News outlet The Mainichi reports that the company plans to retire about half of its 59 wide-body jets, which includes the Boeing 777 to cut costs.
The airline has built up its fleet in recent years, buoyed by Japan’s rapid tourism growth and the 2020 Tokyo Olympics.
The Games were postponed this year and there is still some doubt over whether it will go ahead in 2021.
As of June 2020, it had a fleet of 268 planes.
International passenger traffic plunged 96% for the five months through August, the airline said, although the number of domestic passengers has been gradually rising thanks in part to the government’s travel subsidy program.
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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