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ANA to cut $3.8bn in costs in attempt at profitability next year

Japan's flagship airline remains bullish despite grim demand outlook

With demand for air travel in a trough, ANA Holdings plans to send some employees to one of Japan's largest big-box electronics retailers and others to a chain of high-end grocery stores.   © Reuters

TOKYO -- ANA Holdings will reduce costs by 400 billion yen ($3.8 billion) through March 2022 by downsizing its fleet and sending employees to outside companies as the pandemic has it bracing for what would be its worst-ever net loss, 510 billion yen, for the fiscal year through March.

The restructuring plan, announced Tuesday, is intended to bring Japan's flagship carrier back into the black for the next fiscal year despite the virus continuing to dampen demand for international air travel.

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