ANA in talks to raise up to US$4.7bil capital from banks

TOKYO: Japanese airline company ANA Holdings Inc is in talks with multiple banks to raise capital of up to 500 billion yen (US$4.7bil) in the wake of the coronavirus-driven slump in air travel demand, the Nikkei business daily reported yesterday.

Japan’s biggest air carrier is asking private banks and the state-backed Development Bank of Japan to extend subordinated loans as it prepares for a long-term decline in passenger demand, the Nikkei said.