Japan's ANA to take stake in Skymark Airlines

Tokyo

ANA Holdings has agreed to acquire a stake of up to 19.9 per cent in bankrupt budget carrier Skymark Airlines, gaining access to highly coveted landing slots and strengthening its lead over rival Japan Airlines Co.

Under the deal, Japanese private equity firm Integral Corp, which has provided funds to keep Skymark in business since its bankruptcy in January, will hold just over 50 per cent.