Japan’s ANA to raise $3.2 billion in shares to fund 787 jet purchases
Japan’s biggest airline ANA Holdings said on Friday it will issue new shares to raise $3.2 billion, much of which will be used to fund its orders of fuel-efficient Boeing 787 Dreamliner jets.
Like other big global airlines ANA has been making cost cuts, including pay reductions, to cope with a coronavirus-driven travel slump.
But while many other airlines have been deferring widebodied plane deliveries to safeguard their finances, ANA has opted to stick with its pre-pandemic 787 orders from Boeing.
It says the 787, which is smaller than other widebody models, will be a cost effective alternative to bigger planes that may struggle to make money even after the coronavirus crisis ends.
