24-Mar-2010 12:40 PM
All Nippon Airways' shares tumble after more than doubling annual loss estimate
Analysis
Shares in All Nippon Airways (ANA) slumped 6.0% to JPY267 after Japan's second-largest airline more than doubled its annual loss estimate due to a slower-than-expected recovery in travel demand and reduced ticket prices. ANA now expects a group net loss of JPY65 billion (USD719 million) for the financial year ending 31-Mar-2010, wider than a JPY28 billion loss previously projected. Japan's Nikkei average fell 0.5% yesterday after reaching two-month highs last week.
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