Airlines
ANA Rescues Struggling Japanese Low-cost Carrier Skymark
Teams with private equity fund to resuscitate bankrupt budget carrier
A Skymark Boeing 737-800 takes off from Tokyo International Airport. (Photo: Flickr: Creative Commons (BY-SA) by Ken H / @chippyho)
A Skymark Boeing 737-800 takes off from Tokyo International Airport. (Photo: Flickr: Creative Commons (BY-SA) by Ken H / @chippyho)

All Nippon Airways Holdings will participate in a rescue plan for bankrupt Japanese budget airline Skymark under the terms of a memorandum of understanding executed on Wednesday. The MOU calls for ANA and another investor, Japanese private investment fund Integral Corporation, to inject an 18 billion yen ($150 million) capital investment for payment of debts. Integral would hold a 50.1-percent stake in company while ANA takes a maximum of 19.9 percent, leaving the rest to “other entities.”