ANA announces record huge loss forecast

Oct 28, 2020 | News On Japan

Oct 28, 2020 (NHK) - The coronavirus pandemic has brought record losses to one of Japan's major airline operators. ANA Holdings has announced it expects a group net loss of 4.8 billion dollars, for the year ending next March.

The company says net loss for the half year through September amounted to a record 1.8 billion dollars. It says the number of passengers on international routes dropped 96 percent and on domestic flights by 79 percent.

The head of the holding company says this fiscal year has been difficult. President and CEO Katanozaka Shinya added that they will pursue efforts to make more profits and revenue with domestic, cargo and chartered flights, which continue to do well.

ANA Holdings will seek voluntary retirements, implement an annual pay cut of 30 percent on average and get rid of more than 30 planes as part of restructuring plans.

It plans to launch a new international low-cost carrier and promote tourism and product sales by tapping into customer data from its frequent flyer program in order to boost revenues.

Source: ANNnewsCH

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