Japan's government is in no mood for a huge bailout plan for ailing airline ANA, sources say, preferring a piecemeal approach to direct capital injections — a stark contrast to the bold moves other countries have made to protect flagship carriers.
Forecast to suffer a net loss of around ¥500 billion ($4.8 billion) in the fiscal year to March, Japan's largest airline is expected to announce a revival plan next week that will most likely include pay cuts and reduction in its fleet of aircraft.
The government hopes a waiver on airport landing fees, a tax-funded domestic tourism campaign and a gradual reopening of borders will be enough to keep ANA alive, said government and ruling party officials with direct knowledge of the matter.