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Japan’s ANA Predicts Record $4.87 Billion Net Loss for 2020/21

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Key Points

  • Japan’s biggest airline ANA Holdings on Tuesday forecast a record $4.87 billion net loss for this financial year and announced a major restructuring as the pandemic hammers the global aviation industry.
  • ANA predicted a record net loss of 510 billion yen ($4.87 billion) for the fiscal year to March 2021, compared with 27.6 billion yen in net profit the previous year.
  • ANA had already announced it would halt recruiting for next year. About 3,000 workers reportedly retire every year.
  • Visit The Financial Today’s homepage for more stories.

TOKYO — Japan’s biggest airline ANA Holdings on Tuesday forecast a record $4.87 billion net loss for this financial year and announced a major restructuring as the pandemic hammers the global aviation industry.

The company said its first-half net loss came to 188.4 billion yen ($1.8 billion)—a sharp fall from the 56.7 billion yen in profit it logged during the same April-September period last year.

“There has been a significant decline in passenger demand, which has been severely affected by the immigration restrictions around the world and the voluntary restraints on movement within Japan that have accompanied the spread of COVID-19,” ANA said in a statement.

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