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UPDATE 1-Japan s ANA posts narrower loss on cost cuts, higher cargo demand
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ANA logs loss amid COVID, but cargo demand limits damage
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ANA logs net loss of ¥51 16 bil in April-June
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Tokyo, Apr 30 (EFE).- Japanese carrier All Nippon Airways Friday posted a record net loss of more than 405 billion yen ($3.7 billion) for the pandemic-struck financial year that ended on Mar.31.
But parent group of the airliner, ANA Holdings, predicted that it would return to profitability in fiscal 2021 until Mar.31, 2022.
For the last fiscal year, ANA said it suffered an operating loss of 464.77 billion yen as sales plunged over 62 percent to 728.68 billion yen.
The company had recorded a net profit of 27.6 billion yen and an operating profit of 60.8 billion yen in fiscal 2019.
“The global airline industry has faced an unprecedented contraction as a result of diminished passenger demand caused by immigration restrictions and stay-at-home orders in many countries,” the company said in a statement.
29 Jan 2021 / 18:33 H. Maintains outlook for record full-year operating loss Narrower loss in Q3 v Q1 and Q2 shows recovery underway-CFO Domestic traffic declining again due to rising COVID-19 cases (Adds comments from CEO and background)
TOKYO, Jan 29 (Reuters) - ANA Holdings, Japan s biggest airline, swung to a slightly narrower than expected quarterly operating loss on Friday but kept its forecast for a record full-year loss as fresh coronavirus travel restrictions hit the industry.
ANA reported an operating loss of 81.4 billion yen ($779.10 million) for the quarter to Dec. 31, from a 40.7 billion yen profit a year ago, slightly better than an average 83.8 billion yen loss estimated by three analysts in a Refinitiv poll.