Virus-hit ANA to acquire 400 bil. yen in loans to bolster capital base

The parent company of All Nippon Airways Co. plans to acquire 400 billion yen ($3.8 billion) in loans from five Japanese banks as the airline operator's earnings have sharply deteriorated under the novel coronavirus, sources close to the matter said Wednesday.Four major commercial banks and the government-backed Development Bank of Japan are expected to extend the capital to ANA Holdings Inc. through subordinated loans, the sources said.Under the plan, the DBJ and Sumitomo Mitsui Banking Corp. will extend 130 billion yen each in subordinated loans, which rank after other debts but carry hig…READ FULL ARTICLE