TOKYO -- Japanese budget carrier Skymark Airlines will postpone its planned relisting on the Tokyo Stock Exchange this spring, Nikkei has learned, as plunging air travel demand amid the novel coronavirus pandemic roils stocks in the sector.
Stock offering prices are typically based on the valuations of a company's peers. But the shares of All Nippon Airways parent ANA Holdings and Japan Airlines have dipped 30% to 40% so far this year as the outbreak forces service cutbacks. Skymark now looks set to launch its offering in the second half of 2020 at the earliest.
