The Traderszone Network

Published in TZ Latest News 5 August, 2015 by The TZ Newswire Staff

Skymark creditors pick ANA to lead turnaround plan, reject Delta proposal

ANA Holdings Inc has won creditor backing to lead a turnaround of bankrupt Japanese discount carrier Skymark Airlines Inc [SKALF.PK], defeating a plan that proposed Delta Air Lines Inc (DAL.N) as its sponsor. The victory gives Japan’s largest carrier access to Skymark’s 36 landing slots at Tokyo’s crowded Haneda airport, helping it cement its domestic dominance over Japan Airlines Co Ltd . For debt holders seeking to recoup their money, ANA is “less risky” than Delta, a creditor told Reuters ahead of the decision.