ANA lowers full-year forecast on coronavirus impact

ANA’ parent company has revised down its financial results forecast for the fiscal year ended March 31, 2020, as the coronavirus outbreak batters air traffic. ANA Holdings expects operating revenues to come in at Y1.97t (US$18.3b), Y120b lower than the previous forecast disclosed Oct 29, 2019 at the release of its half-year report. The company slashed its outlook for operating income from Y140b to Y60b. Projected net income now stands at Y27b, about a quarter of Y94b at the previous estimate. At the last forecast, the company cut its outlook for operating revenue by Y60m, lowering operating profit and net profit by Y25b and Y14b, respectively. If realised, the latest forecast represents a 4.3% decline in operating revenue year-on-year, with operating income 64% lower and net income down 76%. <br/>