ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Banking & Finance

Skymark rejects most of creditors' claims

TOKYO -- Japanese budget carrier Skymark Airlines says its liabilities will total just under 9 billion yen ($75 million), wiping out more than 90% of the roughly 310 billion yen in debts reported by creditors.

     The largest creditors are U.S. aircraft-leasing company Intrepid Aviation and European aircraft manufacturer Airbus. Intrepid has filed a claim for around 104 billion yen, while Airbus has put its figure at some 85 billion yen.

     Skymark is apparently refusing to acknowledge these claims as part of its reassessment of liabilities, saying that such debt does not exist or that the evidence is insufficient.

     Airbus and Intrepid had aircraft-purchasing and -leasing contracts with Skymark that were later canceled. As a result, the companies reported damages and lost profits as claims.

     Creditors can seek an assessment by the court if they disagree with Skymark's positions. The court will use reports from third-party assessors to determine the amount of liabilities.

(Nikkei)

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends June 30th

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media