For the fiscal year to March 2020, Japanese airline ANA logs a net profit of 27.6 billion yen ($258 million), a 75% plunge. coronavirus
For the fiscal year to March 2020, the firm logged a net profit of 27.6 billion yen , while operating profit tumbled 63.2% to 60.8 billion yen, on sales of 1,974 billion yen, which were down 4.1%."While ANA sought to reduce costs and combat the increase in expenses...the number of scheduled flights were significantly reduced to match the sudden decline in demand in the 4th quarter," it said in a statement.
The company did not release earnings forecasts for the current financial year, citing uncertainty over the pandemic. ANA had been expecting strong sales but also higher costs as it prepared to expand services in the greater Tokyo region ahead of the 2020 Olympics.
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