By The Financial District
Oct 22, 20201 min
ANA Holdings Inc. is expecting to book a record net loss of around 530 billion yen ($5 billion) for the business year through next March as the coronavirus pandemic hits air travel demand hard, company sources said.
The parent of All Nippon Airways Co., which has withheld an earnings guidance this business year, believes it will take some time for demand, particularly for international flights, to recover due to the pandemic, the sources said.
The company said the number of passengers for its international flights plunged 96 percent in the five months through August from a year earlier after many countries around the world imposed travel restrictions, Mainichi Shimbun also disclosed.
Even though the number of domestic flight passengers has been gradually increasing partly thanks to the government's travel subsidy program, the International Air Transportation Association (IATA) expects that global air traffic will not return to pre-pandemic levels until 2024.