TOKYO : Japan's biggest airline, ANA Holdings Inc, said on Friday a weaker-than-expected first half due to travel curbs meant it now expected to report an operating loss in the current financial year, down from an earlier prediction of a profit.
ANA, which has reported losses for seven consecutive quarters, said it expected to return to a profit in the fourth quarter due to a forecast recovery in travel demand. Before the update, analysts had estimated full-year operating profit of 89.7 billion yen, based on the average of eight forecasts, Refinitiv data showed.
Japan lifted a state of emergency at the end of last month that had been in force across much of the country. While domestic tourism is seen slowly recovering, there is no sign that international travel, particularly inbound tourism, will return in a big way anytime soon.