Skymark exits bankruptcy and predicts first profit in 3 years
Skymark Airlines exited bankruptcy administration and forecast its first operating profit in 3 years after reducing its fleet, cutting routes and getting new funding. The carrier expects to report JPY1.5b (US$13m) in operating profit and sales of JPY70b for the year ending March 31, Skymark said Monday. Skymark also said it’s targeting an “early relisting” of its shares after filing for bankruptcy protection last year. Private equity firm Integral Corp took a 50.1% stake in the company as part of its turnaround, while ANA Holdings owns 16.5% and is supporting the airline in areas including aircraft maintenance and code-sharing. For the year starting April 1, 2018, the airline is forecasting operating profit of more than JPY7b and sales exceeding JPY80b. <br/>
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Skymark exits bankruptcy and predicts first profit in 3 years
Skymark Airlines exited bankruptcy administration and forecast its first operating profit in 3 years after reducing its fleet, cutting routes and getting new funding. The carrier expects to report JPY1.5b (US$13m) in operating profit and sales of JPY70b for the year ending March 31, Skymark said Monday. Skymark also said it’s targeting an “early relisting” of its shares after filing for bankruptcy protection last year. Private equity firm Integral Corp took a 50.1% stake in the company as part of its turnaround, while ANA Holdings owns 16.5% and is supporting the airline in areas including aircraft maintenance and code-sharing. For the year starting April 1, 2018, the airline is forecasting operating profit of more than JPY7b and sales exceeding JPY80b. <br/>
