URGENT: ANA logs record 404.62 bil. yen net loss in FY 2020 amid coronavirus

Economy Society

ANA Holdings Inc. on Friday reported a record net loss of 404.62 billion yen ($3.7 billion) for the business year ended March, hurt by a pandemic-caused slump in travel demand. But ANA, the parent company of All Nippon Airways Co., expects a net profit of 3.5 billion yen in the current year through next March. ANA has undergone cost-cutting by canceling flights and reducing its fleet to ride out the COVID-19 crisis that has hit the global airline industry. For the fiscal year ended March 31, ANA reported an operating loss of 464.77 billion yen as sales plunged 63.1 percent to 728.68 billion ye...

Kyodo News

Kyodo News Society