Japanese Airline ANA Forecasts Its Biggest Ever Loss

ANA Holdings Inc. forecast its biggest-ever operating loss of 505 billion yen ($4.8 billion) for the fiscal year through March 2021, the latest airline to face an existential threat to its business due to the pandemic, Bloomberg News reported.…The outlook issued by ANA calls for a wider full-year loss than the 376 billion yen analysts were projecting on average, according to estimates compiled by Bloomberg. ANA also forecast 740 billion yen in revenue for the fiscal year through March, compared with analysts’ average prediction for 926 billion yen. The $838 billion global airline industry is set to see revenue slashed by half this year, with carriers cutting jobs and securing funding to ride out the crisis. ANA, Japan’s largest carrier, as well as rival Japan Airlines Co. are suffering from a steep drop in domestic and international passenger traffic. Read more