🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

ANA chief urges Japan to boost travel during COVID-19 lull

Published 11/11/2021, 02:45 AM
Updated 11/11/2021, 04:07 AM
© Reuters. All Nippon Airways (ANA) Holdings Inc. President and CEO Shinya Katanozaka speaks during an interview with Reuters at the company's headquarters in Tokyo, Japan November 11, 2021. REUTERS/Androniki Christodoulou

TOKYO (Reuters) -Japan's biggest airline, ANA Holdings, has asked the government to ease curbs on overseas visitors, and seeks a revival of domestic tourism subsidies to spur travel as pandemic infections fall, its chief executive said on Thursday.

Coronavirus immigration curbs in Japan have led to a drop of about 95% in the number of passengers on international flights, but daily infections have dropped to fewer than 200 this month, from an August peak of more than 20,000.

"When we are able to make money we should be allowed to," Shinya Katanozaka, chief executive of the carrier that has had seven consecutive quarters of losses, told Reuters in an interview.

"It will give us the strength to weather things in the future."

Last December, as COVID-19 infections began to rise, Japan halted a programme of subsidies for hotels and travel tickets that had helped ANA and rival Japan Airlines Co. boost passenger numbers on domestic flights.

The government could resume travel subsidies as soon as next month and ease entry limits for overseas visitors to 3,500 a day, Katanozaka said.

© Reuters. All Nippon Airways (ANA) Holdings Inc. President and CEO Shinya Katanozaka speaks during an interview with Reuters at the company's headquarters in Tokyo, Japan November 11, 2021. REUTERS/Androniki Christodoulou

Last month, ANA increased its operating loss forecast for the year to March 31 more than four times, to 125 billion yen ($1.11 billion), and said it would cut worker headcount by a fifth over five years.

($1=113.0900 yen)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.