Let it not be said that ANA Holdings does not believe in stretch goals. Its five-year management strategy, updated in April, calls for record profitability by fiscal year 2020, growing international passenger and cargo revenues by 40%, growing its low-cost carrier (LCC) business 10-fold over 2015, and expanding international seat capacity by increasing the fleet size from 268 to 335 aircraft. If those targets sound ambitious, it’s because they are. They are also set against the ...

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