Japan's Skymark submits bankruptcy plan despite creditor opposition
Reuters
Published May 29, 2015 04:55AM ET
Japan's Skymark submits bankruptcy plan despite creditor opposition
TOKYO (Reuters) - Japan's failed budget carrier Skymark Airlines Inc
Skymark plans to enter discussions with creditors to seek to convince them to accept the restructuring plan, a lawyer for the airline told reporters at a news conference in the capital on Friday. The plan, submitted to Tokyo District Court, calls for major creditors to forgive 95 percent of Skymark's debt.
The two biggest creditors, European jet maker Airbus Group (PA:AIR) and aircraft leasing company Intrepid Aviation Ltd (N:INTR), have both threatened to block Japan's biggest airline, ANA Holdings (T:9202), from buying a 16.5 percent stake in Skymark, a feature of the restructuring plan.
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Written By: Reuters
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