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ANA, JAL competing for sponsorship of Skymark

  • 2015-02-02 15:00:00
  • , Asahi
  • Translation

(Asahi: January 31, 2015 – p. 11)

 

 ANA Holdings and JAL are waging a fierce battle to win over Skymark, which has recently filed for bankruptcy protection. The civil rehabilitation act requires failed entities to include sponsors to extend financial and operational support in their turnaround plans. The two companies both indicated their interest in helping out the beleaguered rival on Jan. 30.

 

 ANA and JAL expressed their intention at Friday news briefings to announce their earnings for the nine months through December, with an eye on the 36 daily landing slots that Skymark has at Tokyo’s Haneda airport.

 

 Kiyoshi Tonomoto, an executive vice president at ANA, responded to a reporter asking if the company will place a bid for sponsoring Skymark: “We will consider it after assessing Skymark’s financial status and whether it can be improved.” ANA plans to make a decision after Skymark speaks with creditors on Feb. 4.

 

 ANA sponsored Air Do when it filed for bankruptcy protection in 2003, and has brought the carrier under its wing.

 

 Meanwhile, the Ministry of Land, Infrastructure and Transport has barred JAL from acquiring new stakes until March 2017 due to the airline’s public bailout background. Nonetheless, the airline has shown willingness to extend support in a way that does not involve capital injection. “We want to help Skymark in areas that we are able to extend support, such as ensuring safe operations and improving passenger convenience,” said Hiroyuki Hioka, an executive officer at JAL. “We want to discuss the matter after talking with the company.”

 

 Skymark hopes to choose Integral, a private equity fund, as a sponsor so it can rebuild itself without being influenced by ANA and other companies. But a lawyer representing the company hinted at the possibility of choosing an airline as a sponsor. “Obtaining sponsorship from a carrier will allow the two companies to complement each other in flight operations and personnel,” the lawyer said.

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