Japan's ANA completes B737-700 phase-out

Japan's ANA set to issue ¥150bn convertible bonds

ANA - All Nippon Airways (NH, Tokyo Haneda) parent ANA Holdings will issue around JPY150 billion yen (USD1.3 billion) worth of bonds due in December 2031, the proceeds from which will be used to support its business structure reform plan announced in October 2020 as well as redeeming maturing bonds and refinancing debt, it announced in a Tokyo Stock Exchange filing on November 24.

The ten-year zero-coupon convertible bonds are set to be issued in the denomination of JPY10 million (USD86,700) each on December 10 (London time). Of the JPY150 billion total, ANA will deploy about JPY70 billion (USD607 million) to redeem bonds maturing in September 2022, while JPY30 billion (USD260 million) will be used to repay the long-term debt that is due to mature by March 2024.

The remaining JPY50 billion (USD433 million) has been allocated "to promote further our business structure reform plan, including investments in reforming our service model and establishing our new third brand." This third brand, initially announced in October 2020 and referred to once again by...

Japan's ANA Holdings to cut 9,000 staff on weak recovery

ANA Holdings has unveiled plans to cut its workforce by about 9,000 employees through March 2026 after it was forced to revise downwards its consolidated net income projections for the current 2021/2 financial year, which ends on March 31, 2022.

In its half-year financials, the holding said the slump in passenger demand brought on by the COVID-19 pandemic had been prolonged, thereby forcing it to revise its full-year numbers downwards from a previously expected profit of JPY28 billion yen (USD246 million) to a net loss of JPY125 billion (USD1.096 billion). The job cuts will primarily affect locally-based ANA - All Nippon Airways (NH, Tokyo Haneda) staff, including cabin crew as well as ground handling teams and will not extend to budget carrier Peach Aviation (MM, Osaka Kansai).

According to the Kyodo news agency, ANA Holdings President Shinya Katanozaka told a media conference that ANA Holdings aims to reduce its headcount from the current 38,000 to about 29,000 over the next five years to rebuild its performance as quickly as possible.

For the...

Japan's Toki Air secures two ATR72s; eyes ATR42 STOLs

Qantas resumes intercontinental flights in mid 4Q21

Qantas (QF, Sydney Kingsford Smith) is bringing forward the restart of its international flights to November 14, 2021, following the Australian government’s surprise announcement that Australia’s borders will open in November.

The national carrier has announced it will operate three weekly return flights between Sydney Kingsford Smith and London Heathrow and Sydney and Los Angeles Int'l respectively with its B787-9s. More flights will be added pending demand.

With its international operations grounded since March 2020, Qantas initially planned to restart its intercontinental flights gradually from December 18, 2021, onwards when Australia is expected to have reached a Cabinet-set vaccination threshold of 80%. Its Perth Int'l to London service has been postponed until at least April 2022 due to the latest Western Australia border settings.

Canberra has not yet disclosed the exact date of the re-opening of borders, meaning Qantas may yet have to adjust the commencement dates. It said flights would be brought forward if borders re-open earlier, or moved to later, if necessary. Passengers would...