ANA Holdings Inc. reported Friday a net loss of ¥51.16 billion ($470 million) in the April-June quarter as the coronavirus pandemic continued to dent travel demand, but cost-cutting and a robust cargo business helped the airline to limit the red ink.

The parent of All Nippon Airways Co. saw its net loss in the first quarter of fiscal 2021 nearly halve from a record quarterly ¥108.82 billion a year earlier. It incurred an operating loss of ¥64.61 billion, shrinking from a ¥159.07 billion loss a year earlier, while sales jumped 63.6% from the previous year to ¥198.91 billion.

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