ANA Holdings Logs Record Quarterly Loss in COVID-19 Crisis

Economy

Tokyo, July 29 (Jiji Press)--ANA Holdings Inc. <9202> said Wednesday that it suffered a record quarterly net loss in April-June, due to cancellations of many domestic and international flights amid the COVID-19 pandemic.

For the first quarter of fiscal 2020, the parent of major Japanese carrier All Nippon Airways reported a consolidated net loss of 108,819 million yen, against a profit of 11,418 million yen for the same period a year ago.

The latest April-June loss was the largest since the company started to disclose quarterly results in fiscal 2003.

In the quarter, ANA Holdings' sales plunged 75.7 pct from a year earlier to 121,608 million yen. It incurred an operating loss of 159,065 million yen, against the year-before profit of 16,173 million yen. Both the latest figures were worst on record on a quarterly basis.

The ANA group saw the number of passengers on its domestic flights dive 88 pct in April-June and that of international passengers plummet 96 pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press