Analysts say 'sell' as Skymark surges 105% in a month

Tokyo

SKYMARK Airlines Inc's share price has more than doubled in a month on optimism that cooperation with other airlines could keep Japan's third biggest carrier from going broke. Technical indicators suggest that it may be time to sell.

Skymark surged 105 per cent since reports in late November that it would get a code-sharing agreement with Japan Airlines Co (JAL), the nation's second biggest carrier. The shares had dropped after Skymark warned investors on Oct 30 that it may go out of business should it have to pay Airbus Group NV a penalty after the planned purchase of six A380 superjumbos fell through.