Japan’s biggest airline ANA Holdings is considering issuing 200 billion yen ($1.9 billion) in shares to raise capital to bolster its finances as a downturn in air travel drags on, the Nikkei newspaper reported.
ANA however said in an email it was not considering issuing shares.
Like other airlines, ANA has had to slash flights as countries around the world imposed travel restrictions to halt the spread of the coronavirus. So far the carrier has relied on loans from its banks and the government to help it cope with the slump in air travel.
In the three months to June 30, ANA posted a loss of 159 billion yen and said it did not expect a full recovery in demand for international flights until at least 2023.