Skymark applies for relisting on TSE after shoring up base

Skymark Airlines, the budget carrier that went bankrupt in 2015, has applied to be relisted on the Tokyo Stock Exchange, e Yomiuri Shimbun has learned.

As restrictions imposed during the COVID-19 pandemic are eased and people are starting to travel more o en, Skymark is aiming to strengthen its nancial foundation with a view to expanding its route network.

e Tokyo-based airline could be relisted as soon as this year, according to some observers.

Skymark sank into the red due to intensifying competition among other reasons and

led for bankruptcy protection under the Civil Rehabilitation Law in 2015.

By withdrawing from unpro table routes and reducing its eet, Skymark cut costs and improved its business performance. Before the pandemic battered Skymark and plunged its operations into di culty again, the company had hoped to be relisted.

Skymark has been shoring up its nancial base through steps such as capital boosts underwritten by existing shareholders. (Nov. 4)