TOKYO (Reuters) – Japanese airline operator ANA Holdings Inc is set to receive 400 billion yen ($3.8 billion) in subordinated loans from multiple banks as the company grapples with a slump in air travel due the COVID-19 pandemic, Kyodo reported on Wednesday.
Financing will consist of 130 billion yen each from Sumitomo Mitsui Financial Group Inc and the state-backed Development Bank of Japan, Kyodo said.
The airline operator will also receive 60 billion yen from Mizuho Financial Group , 50 billion yen from Mitsubishi UFJ Financial Group Inc and 30 billion yen from Sumitomo Mitsui Trust Bank , Kyodo said.
An ANA spokeswoman said the company had not announced anything. SMFG, Mizuho and Mitsubishi UFJ declined to comment. The DBJ and SMTB could not immediately be reached for comment.
(Reporting by Sam Nussey, Takashi Umekawa, Yuki Nitta and Tim Kelly; editing by Louise Heavens)
