Japan’s largest carrier All Nippon Airways (ANA) anticipates a bigger financial loss than previously expected.
According to the airline’s report, ANA will lose a total of 145 billion yen (US$1.1 billion) in the fiscal year ended March 31, 2022. Previously, the company estimated a full year net loss of 100 billion yen (US$780 million).
The negative forecast was attributed to the spread of the Omicron variant, “semi-emergency COVID-19 prevention measures”, and Japan’s stringent border restrictions.
In 2020, the airline reported a net loss of 404 billion yen (US$3.2 billion).
The latest financial news comes just one month after ANA Holdings (ALNPY) unveiled a new airline brand for medium-haul international routes. ANA Holdings (ALNPY) revealed the branding for its new subsidiary airline AirJapan, which is due to take-off for its first commercial flight during the second half of 2023.
It is expected that the newcomer will help ANA to meet emerging trends for international air travel “at a competitive price” post-pandemic, ANA Holdings (ALNPY) explained in an official statement.