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ANA secures $8.8bn in credit, easing cash flow concerns

Airline expects slow recovery to begin around August

Aviation analysts expect further financial countermeasures could be still be needed to help steady Japan's biggest carrier. (Photo by Akira Kodaka)

TOKYO -- Japan's ANA Holdings said Tuesday that it had secured 950 billion yen ($8.8 billion) in loans to help it weather the coronavirus crisis rocking the global aviation industry.

"There is absolutely no concern on cash flow for a while," ANA executive vice president Ichiro Fukuzawa told reporters at an online news conference. "We have been preparing for unexpected circumstances with conservative assumptions."

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