ANA Holdings Inc and Malaysia’s AirAsia Bhd have notified bankrupt Skymark Airlines Inc of their plans to take part in the struggling airline’s restructuring as the company ended accepting applications for sponsorship on Monday.
ANA Holdings is expected to provide comprehensive support including a capital tie-up, joint purchase of jet fuel and code-sharing, sources close to the matter said.
Japan Airlines Co, the other major Japanese carrier, has said it will not apply to be a sponsor for Skymark.
Monday is the deadline set for airline companies to submit sponsorship plans.
AirAsia’s decision to lend a hand to the struggling Japanese airline follows a plan for the Malaysian low-cost carrier to re-enter the Japanese market later this year through a new company it set up last year with non-airline partners after dissolving its partnership with ANA in 2013.
From other industries, Tokyo-based investment fund Integral Corp has decided to extend a 9-billion-yen loan. About 20 other companies had applied for sponsorship by last Thursday, including leasing firm Orix Corp, Shinsei Bank and Daiwa Securities Group Inc, as well as HIS Co, a major travel agency involved in creating Skymark.
The troubled airline will examine each presented restructuring plan and draw up its final list of sponsors by the end of the month.
Skymark, which filed for court protection last month, will submit a rehabilitation plan to the court by May 29.
It faces a maze of issues, including dealing with European aircraft maker Airbus SAS over a penalty charge for breach of contract.