All Nippon Airways (ANA), Japan’s largest airline, expects a larger financial loss than originally anticipated.
ANA would lose a total of 145 billion yen (US$1.1 billion) in the fiscal year ending March 31, 2022, according to the airline’s report. Previously, the company forecasted a net loss of 100 billion yen (US$780 million) for the entire year.
The spread of the Omicron strain, “semi-emergency COVID-19 preventive measures,” and Japan’s severe border restrictions were all blamed for the unfavorable forecast.
The airline made a net loss of 404 billion yen (US$3.2 billion) in 2020.
The latest financial data comes less than a month after ANA Holdings (ALNPY) announced the launch of a new airline brand for medium-haul international flights. ANA Holdings (ALNPY) has unveiled the branding for its new subsidiary airline AirJapan, which is expected to fly for the first time in the second half of 2023.
The newcomer is expected to assist ANA in meeting increasing patterns for international air travel “at a competitive price” post-pandemic, according to ANA Holdings (ALNPY).
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