Skymark exits bankruptcy, expects to be profitable for first time in 3 years

Tokyo

SKYMARK Airlines Inc exited bankruptcy administration and forecast its first operating profit in three years after reducing its fleet, cutting routes and getting new funding.

The carrier expects to report 1.5 billion yen (S$18 million) in operating profit and sales of 70 billion yen for the year ending March 31, Skymark said in a statement on Monday.