Skymark Airlines Inc. may have filed for bankruptcy and seen its passenger numbers dwindle. It still holds an asset worth about $612 million in annual revenue that offers a path out of bankruptcy.
The budget airline has 36 takeoff and landing slots for local service from Haneda airport, or 8 percent of the rights there. One slot for domestic flights at the Tokyo airfield probably generates about ?2 billion in sales annually, according to Hiroshi Hasegawa, an analyst at SMBC Nikko Securities Inc. in Tokyo.
Owning the third-most landing rights at Asia¡¯s second-busiest airport could help Skymark attract a partner to lift the company out of bankruptcy, where it landed last month with ?71 billion of liabilities. Integral Corp., the private-equity fund that is helping the ailing carrier, has promised to hold on to all the Haneda slots and trim operating costs to turn the Tokyo-based airline profitable.
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