Copyright Photo: SKY-Skymark Airlines Boeing 737-800 WL JA73AB (msn 63408) (Pokémon – Pikachu Jet BC) HND (Akira Uekawa). Image: 954650.
Skymark Airlines, due to decreased demand due to COVID-19, has decided to introduce a four-day workweek for office employees in early 2021.
The measure will apply to office workers.
Skymark is the first Japanese airline to introduce such measures in order to keep its employees employed.
Skymark Airlines was founded in November 1996 as an independent domestic airline after airline deregulation in Japan and commenced operations on September 19, 1998.
As previously reported, the airline filed for bankruptcy protection in January 2015 after reporting ¥71 billion ($571.3 million) in liabilities.
The airline today operates domestic flights in Japan, mainly from Tokyo (Haneda) (HND).
Route Map: Routes from HND:
Skymark Airlines aircraft photo gallery:
Skymark Airlines aircraft slide show:
Boeing has handed over the last Boeing 737 Next-Generation aircraft. The pictured Boeing 737-800 JA73AC (msn 63410) was handed over to Skymark Airlines. It departed from Boeing Field yesterday (June 27) bound for Japan via a rest stop in Anchorage.
Copyright Photo: SKY-Skymark Airlines Boeing 737-800 WL JA73AC (msn 63410) BFI (Joe G. Walker). Image: 946749.
Skymark aircraft slide show:
Delta Air Lines (Atlanta) has issued this statement about the choice of ANA (All Nippon Airways) (Tokyo) to lead the recovery of bankrupt Skymark Airlines (Tokyo):
Creditors have chosen ANA, Japan’s largest airline, to sponsor financially troubled Skymark Airlines’ rehabilitation. Skymark is Japan’s third-largest airline.
Delta had offered to back an alternative plan, an indication of its commitment to serving the region.
Masaru Morimoto, Delta’s managing director of Japan, thanked Skymark’s creditors and business partners for their support of the Creditors’ Rehabilitation Plan. The company said while Delta will not be able to support Skymark as a sponsor airline, Delta’s desire remains for Skymark to recover as one of the three largest Japanese airlines.
“Delta’s strategy in Japan remains strong and the company will continue its ongoing focus on improving the customer experience and network offerings,” he said.
Copyright Photo: Michael B. Ing/AirlinersGallery.com. Boeing 767-332 ER N196DN (msn 28453) approaches the runway at Narita International Airport (NRT) near Tokyo.
From our partner ZipanguFlyer in Japan:
On August 5, the creditors of bankrupt Skymark Airlines (Tokyo) approved the bankruptcy reorganization plan backed by ANA Holdings, the parent of ANA-All Nippon Airways (Tokyo), over the Delta Air Lines (Atlanta) sponsored proposal submitted by the largest Skymark creditor, Intrepid Aviation.
ANA has agreed to buy the undelivered Skymark Airbus A380s to gain support from Airbus and Rolls-Royce.
If finally approved, ANA and JAL will directly or indirectly control 100% of the domestic market at Tokyo’s Haneda Airport and 97% of the domestic market according to ZipanguFlyer.
Read the full story: CLICK HERE
Top Photo: Airbus. Can ANA operate the Airbus A380 in Japan profitably? ANA needed the support of Skymark creditors Airbus and Rolls-Royce to win out over ANA.
Video: The making of the first Skymark Airbus A330:
Skymark Airlines‘ (Tokyo) proposed alliance and rescue by ANA-All Nippon Airways (Tokyo) has been approved by the bankruptcy court. However Intrepid Aviation’s alternative proposal (without ANA) has also been approved. Now the creditors will have to pick between the two rescue plans.
Read the full report by our partner ZipanguFlyer: CLICK HERE
Copyright Photo: Michael B. ing/AirlinersGallery.com. Skymark Airlines Boeing 737-8HX JA737N (man 36845) arrives at Tokyo (Narita).
Skymark Airlines‘ (Tokyo) biggest creditor Intrepid, which is opposing ANA’s (Tokyo) involvement in the Skymark reorganization plan, also submitted a rival reorganization plan on May 29. The plan states Integral would be the primary sponsor, but it would select an alternative airline partner other than ANA. The U.S.-based leasing firm is already talking with Delta Air Lines (Atlanta) according to ZipanguFlyer.
Read the full report from our partner ZipanguFlyer: CLICK HERE
Copyright Photo: Akira Uekawa/AirlinersGallery.com. Boeing 737-8Q8 JA737T (msn 35290) approaches the runway at Tokyo (Haneda).
Skymark Airlines‘ (Tokyo) two biggest creditors, Intrepid Aviation and Airbus, have informed the bankruptcy court that they will reject a rescue plan involving ANA-All Nippon Airways (Tokyo) according to ZipanguFlyer.
Read the full story: CLICK HERE
Copyright Photo below: Akira Uekawa/AirlinersGallery.com. Skylark was an Airbus A330-300 operator and was planning to add the larger A380. The pictured A330-343 JA330B (msn 1491) climbs away from Haneda Airport.
Skymark Airlines (Tokyo-Haneda) today (April 22) made it official. According to our partner ZipanguFlyer, the airline, Integral Corporation and ANA Holdings held a press conference today to announce the deal. As a result, Skymark Airlines will cease to be an independent carrier and Japan will basically return to a two-airline group nation.
Read the full story from ZipanguFlyer: CLICK HERE
ANA Holdings issued this statement:
Skymark Inc. (Skymark), Integral Corporation (Integral) and ANA Holdings Inc. (ANAHD) have today agreed upon and executed a memorandum of understanding (the “Memorandum”) stating that Integral and ANAHD will jointly support Skymark which is currently undergoing civil rehabilitation proceedings.
1. Background for the Execution of the Memorandum
Since the commencement order of the civil rehabilitation proceedings was announced on February 4, 2015, Skymark has signed a basic rehabilitation support agreement with Integral on February 5, 2015 and is working to quickly revitalize its business with Integral‟s support.
On February 12, 2015, Skymark appointed GCA Savvian Corporation as its financial adviser to broadly solicit and select sponsors who would be willing to support Skymark in its attempt to maintain and develop the value of Skymark‟s business. Following this selection process, Skymark has decided to appoint ANAHD to be the joint sponsor with Integral and has executed the Memorandum with Integral and ANAHD. ANAHD has experience with the rehabilitation of other Japanese airlines and has offered a wide range of support in sales, supplies and maintenance services to improve the value of Skymark‟s business.
ANAHD is the holding company of All Nippon Airways, ANA Wings, Air Japan Company Limited (full service carrier) Vanilla Air Inc. (a provider of low-cost carrier operations), ANA Sales Co., Ltd. (a travel business provider), All Nippon Airways Trading Company Limited (a trading business provider) and several other companies. ANAHD, whose mission statement is “Built on a foundation of security and trust, the „wings within ourselves‟ help to fulfill the hopes and dreams of an interconnected world,” is Japan‟s largest airline group, and has played a major role in Japan‟s air transportation services for over 60 years.
Beginning today, Skymark, Integral and ANAHD will, under the supervision of the Tokyo District Court and court appointed supervisor, hold detailed negotiations on the basis of the Memorandum and will execute sponsorship agreements and formulate a proposed rehabilitation plan (the “Proposed Rehabilitation Plan”) as part of the civil rehabilitation proceeding.
2. Main Points of the Memorandum
The Memorandum stipulates the basic conditions of the joint sponsorship by Integral and ANAHD of Skymark in order to achieve the revitalization of its business as an independent corporation, with shares issued by Skymark to be re-listed on the stock market as soon as possible.
The overview of the Memorandum is as follows;
(1) Capital Contribution and Payment of Debts
It will be stipulated in the Proposed Rehabilitation Plan that Skymark will perform a 100% capital reduction. After a confirmation order for the Proposed Rehabilitation Plan becomes final and binding, Skymark will perform a capital increase through the allocation of new shares. Integral, ANAHD and other entities will subscribe to these shares and become new shareholders.
The total amount of planned investment is 18 billion JPY, which will be used for the payment of debts (comprising common benefit claims, preferred claims and rehabilitation claims) outstanding at the time the confirmation order of the Proposed Rehabilitation Plan becomes final and binding.
The ratio of capital contributions and voting rights shall be apportioned such that Integral will hold 50.1%, ANAHD will hold a maximum of 19.9%, with other entities holding the remainder. Integral and ANAHD will mutually discuss the capital contribution by other entities and decide on such capital contribution by the time of submission of the Proposed Rehabilitation Plan.
In addition, Skymark is planning to execute commitment lines with financial institutions with the support of Integral and ANAHD to ensure that Skymark has the necessary working capital for its business operations.
- (2) Board of Directors
After the confirmation order of the Proposed Rehabilitation Plan becomes final and binding, the number of directors to the Board of Skymark will be 6. Of these, 3 will be appointed by Integral, 1 will be appointed by ANAHD and the remaining 2 will be decided after discussions between Integral, ANAHD and other contributors. It is contemplated that one of the directors appointed by Integral will be the Chairman and one of the directors appointed by ANAHD or other shareholders will be the President.
- (3) Employment of Employees
The employment of Skymark‟s employees will, as a general principle, be maintained.
- (4) Re-Listing on the Stock Exchange
Integral and ANAHD have agreed to make their best efforts and mutually cooperate to work to the common goal of improving the value of Skymark‟s business and to re-list the shares issued by Skymark on the stock market within 5 years of their investment
Top Copyright Photo: Michael B. Ing/AirlinersGallery.com. Boeing 737-8Q8 JA737T (msn 35290) completes its final approach to the runway at Tokyo (Narita).
Skymark Airlines (Tokyo-Haneda) is reportedly close to accepting financial sponsorship from ANA Holdings, the holding company of ANA (All Nippon Airways) (Tokyo) according to this report by our partner ZipanguFlyer. The bankrupt company received bids from over 20 companies. ANA would co-sponsor the embattled carrier with investment fund Integral Corporation according to this report. An official announcement is expected next week.
Will Skymark be able to retain its independent brand or become part of the ANA feeder network?
Read the full report: CLICK HERE
Copyright Photo: Ivan K. Nishimura/AirlinersGallery.com. Under ANA, Skymark is very likely to remain a Boeing operator. Boeing 737-8HX JA73NL (msn 38104) passes through Honolulu on its long delivery route.