ANA logs net loss amid COVID, but strong cargo demand limits damage

ANA Holdings Inc. reported Friday a net loss of 51.16 billion yen ($470 million) in the April-June quarter as the coronavirus pandemic continued to dent travel demand, but cost-cutting and a robust cargo business helped the airline to limit the red ink.The parent of All Nippon Airways Co. saw its net loss in the first quarter of fiscal 2021 nearly halve from a record quarterly net loss of 108.82 billion yen a year earlier. It incurred an operating loss of 64.61 billion yen, shrinking from a year earlier loss of 159.07 billion yen, while sales jumped 63.6 percent from a year earlier to 198.9…READ FULL ARTICLE