Airline News
Skymark and Airbus close to settlement deal?
October 7th 2014
Japanese daily The Asahi has reported that Airbus and Skymark Airlines are nearing an agreement over the cancellation penalty Skymark has to pay the manufacturer for non-fulfilment of a purchase contract for six Airbus 380 superjumbos signed in 2010. Read More »
The news was well-received by investors in Japan who sent Skymark’s stock up as much as 15%, the highest since August 19. Skymark’s shares have plummeted over 42% this year, particularly after Airbus cancelled the carrier’s order in July.
Skymark has since agreed to pay between 20 billion yen (US$184 million) and 23 billion yen, the amount of prepayments for the double-decker planes, to Airbus, The Asahi reported, without saying where it got the information. The aircraft maker, which had initially demanded as much as 70 billion yen, and Skymark are aiming to reach a final agreement this month, the paper said.
The deal with Japan’s third-largest carrier was once considered a breakthrough for Airbus in the Japanese market traditionally dominated by Boeing. Shinichi Nishikubo, president of Skymark, at the time said he wanted to use the A380 for all-business class long-haul services from Japan to the U.S. at half the price his rivals offered.
