All Nippon Airways Co. said Wednesday it failed in the year to March to rebound from the losses it suffered the year before, blaming its sluggish performance on weak consumer spending and stiff competition on prices.
The country's second-largest carrier also warned that the war in Iraq and the outbreak of severe acute respiratory syndrome are likely to depress its consolidated revenue by a further 26 billion yen for the current year.
It pledged to return to profitability by canceling flights and taking other cost-cutting measures.
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