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.
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.