Skymark Airlines completes civil rehabilitation on 28-Mar-2016

Skymark Airlines announced (28-Mar-2016) the completion of its civil rehabilitation proceedings on 28-Mar-2016. Under the rehabilitation plan, Skymark performed 100% capital reduction and received a JPY18 billion (USD156.5 million) capital injection from its sponsors on 29-Sep-2015, which were used to make repayments. 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 codesharing. [more - original PR - Japanese]