ANA will delay reception of aircraft to cut costs: president

ANA will delay the delivery of aircraft as Japan's largest airline makes moves to soften the financial blow from the coronavirus, President and CEO Shinya Katanozaka said. The global outbreak has closed international borders and has essentially grounded the airline industry as whole. To ride out the turbulence, parent company ANA Holdings will engage in aggressive cost-cutting measures supplemented by relief funds, he said. "What is key is self-support," Katanozaka said. "We'll postpone receipt of aircraft and cut executive pay, among other measures. We pay most of the aircraft purchasing cost during the time of delivery. We're moving forward in shifting those payments. We plan to receive 13 aircraft this fiscal year, but we're shifting receipt of the A380 and the 787 from the first half to the second half." He was referring to the Airbus superjumbo jet and Boeing's wide-body craft, respectively. ANA's first fiscal year ends Sept. 30, while H2 ends March 31 next year. "Aircraft due for delivery in the second half of this fiscal year will be shifted to the next fiscal year. As for the 777-9X [Boeing's newest jumbo jet] that we've ordered, delivery has been postponed partly due to circumstances on their end."<br/>