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Tokyo — ANA Holdings is set to receive about ¥400bn ($3.8bn) in subordinated loans from five lenders, people with knowledge of the matter said, as the struggling Japanese airline reels from the steep drop-off in passenger traffic due to the Covid-19 pandemic.

Mitsubishi UFJ, Sumitomo Financial, Mizuho Financial, Sumitomo Mitsui Trust and the government-backed Development Bank of Japan will participate in the financing, said the people, who asked not to be identified because the information was not public. Kyodo News earlier reported on the funding plan without citing where it obtained the information...

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