Skymark Lenders Approve Rehabilitation Plan Backed by ANA
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Skymark Airlines Inc.’s creditors approved a rehabilitation plan backed by ANA Holdings Inc. and rejected one that relied on Delta Air Lines Inc., finalizing a path back from bankruptcy for Japan’s third-largest airline.
The plan sponsored by ANA met both necessary conditions in Wednesday’s vote in Tokyo, according to Nobuo Sayama, a partner at Integral Corp., the private-equity firm guiding Skymark’s turnaround. To win approval, a plan needed the backing of a majority of creditors as well as the support of creditors holding a majority of Skymark’s debt.