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Earnings

Japan's ANA posts $1.5 billion first-quarter operating loss as COVID-19 saps travel demand

FILE PHOTO: An employee, wearing protective mask following an outbreak of the coronavirus disease (COVID-19), passes in front of All Nippon Airways (ANA) logo at Kansai International Airport in Osaka, Japan, March 14, 2020. REUTERS/Edgard Garrido

TOKYO (Reuters) - Japan's biggest air carrier, ANA Holdings Inc 9202.T, reported on Wednesday an operating loss of 159 billion yen ($1.51 billion) for the first quarter from April to June, but offered no annual forecast, citing demand uncertainty over the coronavirus pandemic.

The loss compared with a year-earlier profit of 16.1 billion yen (118.58 million pounds). First-quarter revenue plunged 76% to 121.6 billion yen.

Like other airlines around the world, ANA has been hammered by a collapse in air travel as the pandemic forced many countries to impose international and domestic restrictions.

Reporting by Chang-Ran Kim; Editing by Clarence Fernandez

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