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Wednesday, August 5, 2015

ANA gains creditor backing to lead bankrupt Skymark's turnaround plan, (NYSE: DAL)

ANA Holdings Inc won the backing of creditors to lead a turnaround of bankrupt Japanese discount carrier Skymark Airlines Inc, defeating a rival plan that proposed Delta Air Lines as its sponsor.The victory is set to give Japan's largest carrier access to Skymark's 36 landing and take-off slots at Tokyo's popular Haneda airport, helping it cement its growing domestic dominance over Japan Airlines. For debt holders seeking to recoup their money, ANA is less risky than Delta, a creditor told Reuters ahead of the Wednesday vote.ANA has a track record of operating airlines in Japan, has already discussed business plans with Skymark and other stakeholders and is close to Prime Minister Shinzo Abe's government, he added, declining to be identified due to the sensitivity of the matter.

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 1.36% or $0.62/share to $46.35. In the past year, the shares have traded as low as $30.12 and as high as $51.06. On average, 11927900 shares of DAL exchange hands on a given day and today's volume is recorded at 11268314.