Delta to Invest in Japan’s Skymark Airlines
Bankruptcy Deal Could Give Delta Access to Coveted Domestic Slots
Delta Air Lines might invest in bankrupt Japanese airline Skymark as part of a restructuring plan, according to reports in the Japanese media.
The news was first reported in the Nikkei business newspaper, which said that Delta had agreed to participate in a turnaround plan led by Skymark creditor Intrepid Aviation. Under the terms of that plan, Delta could end up owning up to 20% of the airline. Terms of the investment were not disclosed.
If Delta ultimately gains partial ownership, the move would give the Atlanta-based carrier unprecedented access to domestic takeoff and landing slots at Tokyo’s Haneda Airport. Haneda is preferred by many travelers over Narita given its location, which is close to downtown Tokyo.
Currently, only Japanese carriers including Skymark, ANA, and Japan Airlines, have domestic slots.
Skymark, the country’s third largest domestic carrier, filed for bankruptcy protection in January 2015.
(Photo: Accura Media Group)