ANA predicts record $4.87b net loss

TOKYO, Oct 27 (AFP): Japan's biggest airline ANA Holdings on Tuesday forecast a record $4.87 billion net loss for this financial year and announced a major restructuring as the pandemic hammers the global aviation industry.

The company said its first-half net loss came to 188.4 billion yen ($1.8 billion) -- a sharp fall from the 56.7 billion yen in profit it logged during the same April-September period last year.

"There has been a significant decline in passenger demand, which has been severely affected by the immigration restrictions around the world and the voluntary restraints on movement within Japan that have accompanied the spread of Covid-19," ANA said in a statement.