By Shawn Schroter
TOKYO--Japan's Skymark Airlines Inc. said late Wednesday that it
filed for bankruptcy protection with the Tokyo District Court.
In its filing, Japan's third largest carrier cited Airbus
Group's decision last year to cancel Skymark's order for six A380
superjumbo jets. Airbus had sought large cancellation fees.
Skymark also blamed the rapid fall in the yen against the
dollar, which raised the airline's fuel costs in yen terms.
The company said in a release that its outstanding debts total
Y71 billion ($604 million) and that company president and CEO,
Shinichi Nishikubo, would step down.
Skymark was founded in 1996 with an eye on the domestic market
for budget air travelers. The company said it serves approximately
6.73 million passengers a year with 33 aircraft.
Write to Shawn Schroter at Shawn.Schroter@wsj.com
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