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ANA CEO tries to reassure shareholders over airline's financing

Katanozaka stresses $9.34 bn in support will ease cash flow at Japanese carrier

ANA has seen a significant drop in demand as the coronavirus pandemic closed international borders and essentially grounded the airline industry globally. (Photo by Akira Kodaka) 

TOKYO -- The president and CEO of ANA Holdings, Shinya Katanozaka, attempted to reassure shareholders during the company's annual shareholders' meeting on Monday, saying the Japanese carrier has "no problems with financing for the time being" as it has "prepared a total of one trillion yen ($9.34 billion) in borrowings and credit lines."

ANA, which is the parent company of All Nippon Airways -- Japan's largest airline -- has seen a significant drop in demand as the coronavirus pandemic closed international borders, effectively grounding the industry globally.

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