FY2020 Financial Results

All segments of the ANA group has been heavily affected by the impact of the spread of Coronavirus (COVID-19)

  • Under these severe economic conditions, the Japanese economy shrank due to the effects of COVID-19,operating revenues decreased to 728.6 billion yen. ANA HD implemented cost reduction measures totaling 590 billion yen, cutting variable costs by limiting the scale of its operations and reducing personnel costs and other fixed costs. However, despite these measures the operating loss was 464.7 billion yen and the ordinary loss was 451.3 billion yen, and net loss attributable to owners of the parent was 404.6 billion yen. ANA HD recorded a special loss of 86.3 billion yen for Business Structure Reform expenses.

Consolidated Financial Summary (Years ended March)

Consolidated Financial Summary (Billion yen)
FY2019 (Results) FY2020 (Results) Difference Change (%)
Operating Revenues 1,974.2 728.6



Operating Expenses 1,913.4 1,193.4 719.9 37.6
Operating Income 60.8



Non-Op. Gains/Losses


13.4 14.8
Recurring Income 59.3



Extraordinary Gains/Losses




Net Income 27.6



EBITDA*1 236.5



  1. *1.EBITDA = Op. Income + Depreciation and Amortization

Operating Income and Net Income

Net Income 39.2 bilion. FY2015 Op.Income 136.4 Billlion, Net Income 78.1 bilion. FY2016 Op.Income 145.5 Billlion, Net Income 98.8 bilion. FY2017 Op.Income 164.5 Billlion, Net Income 143.8 bilion. FY2018 Op.Income 165.0 Billlion, Net Income 110.7 bilion. FY2019 Op.Income 60.8 Billlion, Net Income 27.6 bilion.
(Years ended March)

FY2021 Earnings Forecast (Announced on April 30,2021)

ANA HD expects that COVID-19 precautions such as prolonged stay-at-home requests in major cities and immigration restrictions will continue to impact its financial results. Conversely, public vaccination has started throughout Japan in February, and based on data from countries where vaccination has progressed, it appears that the spread of COVID-19 can be contained, which will lead to greater passenger confidence to fly and a recovery in air transport demand.

Based on the "ANA HOLDINGS Announcement of Transformative Measures to a New Business Model" that the company group announced on October 27, 2020, we will steadily implement business structure reform plans in response to the changes caused by COVID-19. These proactive steps will help ANA HD reemerge stronger and better able to withstand future infectious diseases. 

Consolidated Financial Forecast

Unit: billion yen(rounded down)

Forecast for
FY2020 Difference
Operating revenues 1,380.0 728.6 651.3
Operating income 28.0 -464.7 492.7
Ordinary income 5.0 -451.3 456.3
Net income attributable to owners of the parent 3.5 -404.6 408.1