ANA Holdings posts biggest quarterly net loss

Jul 30, 2020 | News On Japan

Jul 30, 2020 (NHK) - Executives at ANA Holdings are blaming the coronavirus pandemic for the airline's worst quarterly result. They say between April and June the carrier suffered a net loss of more than 1 billion dollars.

The executives say revenue for the quarter plunged to 121.6 billion yen, or about 1.2 billion dollars. That's a year-on-year decline of more than 75 percent.

They say the firm's net loss was almost 108.8 billion yen, nearly double the size of the loss in the previous quarter.

The sobering results followed a series of entry bans and a sharp decline in cross-country travel.

ANA says it's hard to predict how the pandemic will affect its business in the months ahead, so it's too early to release its outlook for the full business year.

The carrier expects demand for domestic air travel to recover at the end of next fiscal year. It says international flights will likely be back to pre-pandemic levels at the end of fiscal 2023.

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