ANA forecasts smaller net loss for FY2020 on cost-cutting efforts

Economy

ANA Holdings Inc. said Friday it now forecasts its net loss in the business year ended March to be 405 billion yen ($3.75 billion), less than the previous estimate of 510 billion yen thanks to cost-cutting efforts and an eased tax burden. ANA said its operating loss is expected to stand at 465 billion yen, smaller than the initial forecast of 505 billion yen, on sales of 725 billion yen, down from the previous outlook of 740 billion yen, amid weak air travel demand due to the continued impact of the novel coronavirus pandemic. ANA, the parent company of All Nippon Airways Co., is scheduled to ...

Kyodo News

Kyodo News