A look at the week
By Jordan Chong
There was some difficult news to digest this week.
ANA HOLDINGS INC., the parent company of All Nippon Airways (ANA), has forecast a full-year loss in the vicinity of 510 billion yen (US$4.9 billion) after slumping to a loss of 188 billion yen (US$1.8 billion) for the first half.
ANA HOLDINGS executive vice president and chief financial officer, Ichiro Fukuzawa, expressed optimism that signs of recovery in the second quarter indicated the worst was over, but the road back will be a long one.
More immediately, the International Air Transport Association (IATA) published figures this week that showed airline revenues were expected to be 46% below the US$838 billion the industry generated in 2019. The forecast was 17 percentage points lower than the airline lobby group's previous estimate. Read More »