ANA Holdings Inc. President Shinichiro Ito said Monday that his company is not planning a public stock offering to fund 70 new Boeing and Airbus aircraft with listed prices amounting to more than ¥1.7 trillion.
"We are not short of funds," Ito said at a general shareholders' meeting in Tokyo, shrugging off concerns about dilution after a possible stock offering.
The company will secure funds by utilizing its internal reserves and financial loans, he added.
Ito said ANA is planning to invest about ¥150 billion annually, and that the 70 aircraft will be delivered by 2027, together with more than 60 other planes the company has ordered.
In March, ANA Holdings said it would buy 20 Boeing 777-9Xs, large twin-aisle aircraft, as well as six Boeing 777-300 ERs and 14 Boeing 787-9s from Boeing Co., as well as smaller single-aisle jets from the Airbus A320 family, including seven A320neo and 23 A321neo — the biggest purchase ANA has made in terms of number of aircraft and cost.