Arab Today, arab today japans ana to buy stake in bankrupt skymark airlines
Last Updated : GMT 00:22:57
Arab Today, arab today
Arab Today, arab today

Japan's ANA to buy stake in bankrupt Skymark Airlines

Arab Today, arab today

Arab Today, arab today Japan's ANA to buy stake in bankrupt Skymark Airlines

Skymark Airlines
Tokyo - AFP

The parent company of Japan's All Nippon Airways (ANA) said Wednesday it was throwing a lifeline to domestic rival Skymark Airlines by taking a nearly 20 percent stake in the bankrupt carrier.

ANA Holdings said it would invest in Skymark along with private equity fund Integral, which would take a 50.1 percent interest in the firm.

The struggling airline's creditors would scoop up the remaining stake, for a total of 18 billion yen ($150 million).

Skymark, Japan's third-biggest airline which flies on domestic routes, filed for bankruptcy protection in late January in the face of potentially massive penalties linked to a cancelled $2.2 billion jet order with Airbus.

"Integral and ANA have agreed to cooperate to enhance the value of Skymark and do our best to get its shares listed again within five years," ANA Holdings said in a press release.

The stock was delisted from the Tokyo exchange last month.

ANA will appoint a new president and Integral will pick a new chairman once Skymark's rehabilitation plan -- which it will present to Tokyo District Court by May 29 -- is approved.

Current chairman Takashi Ide and president Masakazu Arimori are expected to step down around June, local media said.

Skymark's efforts to turn itself around failed as it struggled against tough competition in the sector, while its woes deepened after the deal with Airbus collapsed in the summer.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japans ana to buy stake in bankrupt skymark airlines Arab Today, arab today japans ana to buy stake in bankrupt skymark airlines

 



Arab Today, arab today
Arab Today, arab today US, Britain ban laptops on flights

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Hezbollah commander killed by own men

GMT 07:43 2017 Wednesday ,22 March

Hezbollah commander killed by own men
Arab Today, arab today Tunisian media host praises her new experience

GMT 12:35 2017 Wednesday ,15 March

Tunisian media host praises her new experience
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Palestinian police wage war

GMT 07:53 2017 Friday ,17 March

Palestinian police wage war
Arab Today, arab today Dalia Mustafa believes in the presence of ghosts

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 14:17 2017 Monday ,20 March

Cholesterol-slashing drug not impair brain

GMT 17:08 2017 Saturday ,18 March

Reveals secrets of tourism flights to space

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 15:42 2017 Saturday ,18 March

HTC U Play now available in KSA

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday