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ANA forecasts net profit of $32m after suffering record loss

Japan's biggest airline plans to cut $2.7bn in costs to restore profitability

In common with all airlines, ANA has been massively affected by the loss of passengers during the COVID-19 pandemic. (Photo by Ken Kobayashi)

TOKYO -- ANA Holdings, the parent company of All Nippon Airways, announced on Friday a net profit forecast of 3.5 billion yen ($32 million) for the current fiscal year after it posted a consolidated net loss of 404.6 billion, its largest ever deficit, for the year that ended in March.

The airline posted an operating loss of 464.7 billion yen in the same period. Because of the COVID-19 pandemic, the number of passengers carried on international routes fell by 95% for the fiscal year 2020 compared to the previous year.

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