Japan's ANA to shrink fleet as it skids toward record US$4.8b loss

ANA, like other airlines, is burning through cash to keep jets flying albeit with too few passengers.

TOKYO: Japan's ANA Holdings Inc on Tuesday said it will retire more than a tenth of its mostly Boeing Co fleet and delay two aircraft orders to help rein in costs and survive a collapse in air travel caused by coronavirus travel restrictions.

Forecasting a record operating loss of 505 billion yen ($4.82 billion) for the year to March 31, Japan's biggest airline said it will also temporarily transfer more than 400 workers to other companies and ask those remaining to accept pay cuts or unpaid leave.