2-Jun-2015 11:07 AM

Skymark Airlines questions feasibility of Intrepid's rehabilitation plan for the carrier

Skymark Airlines confirmed (01-Jun-2015) Intrepid Aviation Leasing, a rehabilitation creditor, also submitted a rehabilitation plan with the Tokyo District Court following the carrier's own submission of its rehabilitation plan on the 29-May-2015 deadline. Skymark stated the feasibility of the leasing company's restructuring proposal, which called for another airline sponsor instead of All Nippon Airways parent ANA Holdings, "not clear at all." The added the Intrepid proposal has not yet revealed how much money will be paid back to the creditors, adding its rehabilitation plan is "feasible and the most beneficial to rehabilitation creditors and therefore it will be able to obtain the consent from the majority." Intrepid's plan also assumes that Skymark will pay back 3% of its debt, less than the 5% in the carrier's own proposal. [more - original PR - Japanese]

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