Bankrupt carrier Skymark Airlines Inc. is weighing the possibility of starting overseas flights and is set to unveil a business plan by April as part of its turnaround, Chairman Nobuo Sayama said.
The plan will cover as many as five years starting April 1 and includes a consideration for an initial share sale by 2020, Sayama said in a Feb. 25 interview in Tokyo. At the end of this month, the company will exit a court-mandated rehabilitation program led by private equity firm Integral Corp., which owns a 50.1 percent stake. ANA Holdings Inc. has 16.5 percent of the company and a fund established by the Development Bank of Japan Inc. and Sumitomo Mitsui Financial Group Inc. owns the rest.
ANA, which is supporting Skymark in areas including code-sharing and aircraft maintenance, said it will not provide the overhaul needed for two of the carrier¡¯s Boeing 737s to be certified as airworthy unless the smaller airline adopts its flight-booking system, Sayama said. Skymark will not agree to use ANA¡¯s system because doing so will erode its independence, he said.
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