Tokyo
Japan’s ANA Holdings said it will retire more than a tenth of its mostly Boeing fleet and delay two aircraft orders to help rein in costs and survive a collapse in air travel caused by coronavirus travel restrictions. Forecasting a record operating loss of 505 billion yen ($4.82 billion) for the year to March 31, Japan’s biggest airline said it will also temporarily transfer more than 400 workers to other companies and ask those remaining to accept pay cuts or unpaid leave. ANA, like other airlines, is burning through cash to keep jets flying albeit with too few passengers. Though demand for domestic flights has recovered to about half of last year’s level, helped by government-subsidized travel, it is flying only a fraction of its usual international schedule.–AN
