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Wednesday, July 15, 2015

Delta proposed as a sponsor for Japan's Skymark Airlines, (NYSE: DAL)

Delta Air Lines has been proposed as a sponsor to rehabilitate Skymark Airlines Inc by the bankrupt Japanese carrier's biggest creditor - a plan that challenges a separate proposal that has put forward ANA Holdings as a sponsor. If the move is approved by a majority of creditors, it could help Delta use Tokyo's Haneda airport as a transit hub for passengers coming off its flights from Los Angeles. Currently, Delta's connecting opportunities are limited because it has no alliance partner in Japan.Skymark's creditors are slated to vote on the rival plans by an August 5 meeting of debt holders. Both plans would likely result in the winning sponsor taking a stake of under 20 percent percent in the discount airline.Airline leasing firm Intrepid Aviation, Skymark's biggest creditor, said it had conducted a thorough process to identify the strongest sponsor candidate.

Delta Air Lines, Inc. (Delta) provides scheduled air transportation for passengers and cargo throughout the United States and around the world. Shares of DAL traded higher by 0.67% or $0.29/share to $43.66. In the past year, the shares have traded as low as $30.12 and as high as $51.06. On average, 12204500 shares of DAL exchange hands on a given day and today's volume is recorded at 13648569.