• By The Financial District

ALL NIPPON AIRWAYS POSTS $1-B 2ND QUARTER LOSS

ANA Holdings Inc. on Wednesday reported a record net loss of 108.82 billion yen ($1 billion) in the April-June quarter, as the novel coronavirus pandemic sharply reduced demand for air travel, Mainichi Shimbunreported on July 30, 2020.

The parent company of All Nippon Airways Co. said it posted a group operating loss of 159.07 billion yen in the three months through June, plunging from a profit of 16.17 billion yen a year earlier. Consolidated sales tumbled 75.7 percent to 121.61 billion yen.


The company did not provide an earnings forecast for the business year ending March, citing uncertainty in its business environment due to the pandemic. ANA said the number of passengers for international flights excluding those of its low-cost carrier plummeted 96.3 percent to 91,582 in the reporting quarter, while domestic flights saw a decline of 88.2 percent to 1.28 million.


"The number of domestic passengers has gradually picked up in July, but demand for international flights remains very weak," said ANA Holdings Chief Financial Officer Ichiro Fukuzawa in an online press conference. He added, however, that "seat reservations for domestic flights after the second half of August and later remain sluggish" given the recent resurgence of virus infections across the country, although the government launched a subsidy campaign earlier this month to spur domestic travel.