Intrepid Selects Delta as Skymark Sponsor Candidate
By Business Wire News
By Business Wire News
Intrepid Aviation (“Intrepid”) today announced the selection of Delta Air Lines Inc. (“Delta”), as the sponsor airline candidate for Skymark Airlines Inc., (“Skymark”) under the Creditors’ Rehabilitation Plan (“Plan”).
Intrepid believes this Plan offers the best opportunity to preserve Skymark as Japan’s third-largest independent carrier and is in the best interests of the carrier’s employees, suppliers and creditors.
Intrepid has conducted a thorough process to identify the strongest sponsor candidate to support Skymark’s rehabilitation, and focused on airlines that have a strong presence and operations in Japan combined with long-term commitment to Skymark’s successful rehabilitation.
Delta is a leading global airline with a strong balance sheet, innovative investments in customer experience, industry-leading operational performance and successful partnerships in key markets. Delta is the largest foreign airline operating in Japan. With over 65 years of operating history in Japan, Delta continues to position Japan as a cornerstone in its Asia Pacific network.
Franklin Pray, Intrepid President & CEO said, “We are delighted to select Delta as a sponsor candidate, should creditors choose this Plan for the rehabilitation of Skymark when they vote by absentee ballot by July 24, 2015 or at the creditors’ meeting on August 5, 2015. As the largest creditor, Intrepid Aviation’s ultimate goal is the successful rehabilitation of Skymark, a goal we have been consistently working toward for several months.”
BACKGROUND FOR EDITORS
Tokyo-based Skymark filed for civil rehabilitation proceedings in the Tokyo District Court on January 28, 2015.
Intrepid Aviation, which is Skymark’s single largest creditor, filed a Creditors’ Rehabilitation Plan at the Tokyo District Court on May 29, 2015. Last month the Tokyo District Court approved two plans—the Creditors’ Rehabilitation Plan and the Debtors’ Rehabilitation Plan—to be put forward for vote by Skymark creditors. Skymark creditors can either attend the creditors’ meeting on August 5, 2015 and vote in person (or by proxy if the alternate brings the ballot) or (ii) by sending votes to the Tokyo District Court by July 24, 2015 if they elect to vote in advance by absentee ballot.
ABOUT INTREPID AVIATION
Intrepid Aviation is a privately held commercial aircraft lessor, which owns commercial aircraft leased to airline operators worldwide. Intrepid Aviation focuses primarily on twin-engine widebody equipment, such as the Boeing 787, 777 and the Airbus A330 aircraft. For more information on Intrepid Aviation, www.intrepidaviation.com.
ABOUT DELTA AIR LINES
Delta Air Lines serves more than 170 million customers each year. Delta was named to FORTUNE magazine’s top 50 World’s Most Admired Companies in addition to being named the most admired airline for the fourth time in five years. Additionally, Delta has ranked No.1 in the Business Travel News Annual Airline survey for four consecutive years, a first for any airline. With an industry-leading global network, Delta and the Delta Connection carriers offer service to 334 destinations in 64 countries on six continents. Headquartered in Atlanta, Delta employs nearly 80,000 employees worldwide and operates a mainline fleet of more than 700 aircraft. The airline is a founding member of the SkyTeam global alliance and participates in the industry’s leading trans-Atlantic joint venture with Air France-KLM and Alitalia as well as a joint venture with Virgin Atlantic. Including its worldwide alliance partners, Delta offers customers more than 15,000 daily flights, with key hubs and markets including Amsterdam, Atlanta, Boston, Detroit, Los Angeles, Minneapolis/St. Paul, New York-JFK, New York-LaGuardia, Paris-Charles de Gaulle, Salt Lake City, Seattle and Tokyo-Narita. Delta has invested billions of dollars in airport facilities, global products and services, and technology to enhance the customer experience in the air and on the ground. Additional information is available on the Delta News Hub, as well as delta.com, Twitter @DeltaNewsHub, Google.com/+Delta, Facebook.com/delta and Delta’s blog takingoff.delta.com.