ANA posts quarterly loss
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All Nippon Airways has reported a JPY29.2 billion (US$306 million) loss for the first quarter of the 2009-10 fiscal year, down from a JPY6.6 billion profit in the same period last year. The carrier’s Executive Vice President, Tomohiro Hidema, blamed the A(H1N1) flu scare and global economic crisis for the loss. He added that while the company was able to achieve cost savings of around 6%, that was far outweighed by the fall in revenue, which declined 21.9% to JPY269.8 billion.
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