TOKYO: While uncertainty remains over when or if travel demand will make a full-fledged recovery from the coronavirus pandemic, Japan's two major airlines are positioning themselves to take advantage of any upturn with a punt on low-cost services.
JAL reports first net loss since 2012 relisting as pandemic bites Sorry, but your browser needs Javascript to use this site. If you re not sure how to activate it, please refer to this site: https://www.enable-javascript.com/
Kyodo May 7, 2021
Japan Airlines Co. on Friday reported a net loss of ¥286.69 billion for the business year through March as the coronavirus pandemic depressed travel demand, causing the company to log its first red ink since relisting in 2012 following business rehabilitation.
JAL, which has been undergoing cost-cutting to ride out the COVID-19 crisis, did not disclose earnings forecasts for the current year through next March, citing uncertainty.
2021-04-30 08:36:47 GMT2021-04-30 16:36:47(Beijing Time) Xinhua English
TOKYO, April 30 (Xinhua) Japanese carrier ANA on Friday reported a record net loss of 404.62 billion yen (3.71 billion U.S. dollars) for the fiscal year ended March, owing to a massive drop in air travel caused by the COVID-19 pandemic.
ANA, the parent company of All Nippon Airways Co., said however that looking ahead it projects a net profit of 3.5 billion yen (32.15 million U.S. dollars) in the current year through next March as patronage is expected to pick up.
The carrier has initiated a number of cost cutting initiatives amid a slump in global consumer demand to cushion the blow from the hefty losses, with such measures including canceling flights and reducing the size of its its fleet.
Pandemic-hit ANA posts record FY 2020 loss, expects return to black
ANA Holdings Inc. said Friday it posted a record net loss of 404.62 billion yen ($3.7 billion) in the last fiscal year, hurt by a pandemic-caused slump in travel demand, but it expects cost-cutting efforts to help it return to profitability in the current business year.
ANA, the parent of All Nippon Airways Co., reported an operating loss of 464.77 billion yen in the fiscal year ended March 31, as sales plunged 63.1 percent to 728.68 billion yen.
Its cost-reduction steps such as canceling flights and scaling back its fleet failed to make up for a plunge of over 70 percent in total passengers amid the COVID-19 crisis, which has hit the global airline industry.
Railways to reduce train services in Tokyo area amid fresh COVID-19 emergency msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.