JULY 15TH, 2015
Intrepid Selects Delta as Skymark Sponsor Candidate
STAMFORD, Conn.—(BUSINESS WIRE)—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.”