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Skymark said to owe lessors GE Capital, AWAS total US$520m

Wednesday, February 4, 2015 - 11:51

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Skymark Airlines Inc filed for bankruptcy owing lessors about US$520 million, led by the aircraft-leasing arm of General Electric Co, according to a document the airline submitted in the Tokyo District Court.

[TOKYO] Skymark Airlines Inc filed for bankruptcy owing lessors about US$520 million, led by the aircraft-leasing arm of General Electric Co, according to a document the airline submitted in the Tokyo District Court.

Skymark owed GE Capital Aviation Services Ltd, or GECAS, US$125 million, followed by AWAS Aviation Trading Ltd US$116 million, according to the document obtained by Bloomberg News. Aviation Capital Group Corp and Babcock & Brown Aircraft Management LLC each had US$63 million to get from the Tokyo-based airline, which filed for bankruptcy Jan 28.

Hiriyouki Sakata, a Skymark spokesman, declined to comment.

The budget airline had to seek protection after a decision to purchase six Airbus Group NV A380 superjumbos flopped last year. Japan's third-largest carrier filed with 71 billion yen (US$602 million) in liabilities and President Shinichi Nishikubo stepping down in favor of Chief Financial Officer Masakazu Arimori. The stock will be delisted on March 1.

sentifi.com

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Reuters reported the debt on Tuesday.

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