Skymark postpones relisting of shares on TSE New Corona impact April 15 17:20
"Skymark," an airline company that went bankrupt five years ago, decided to postpone the planned relisting of shares on the Tokyo Stock Exchange. This is because the business environment is rapidly deteriorating due to the spread of new coronavirus infections.
Five years ago in 2015, Skymark's management deteriorated due to fierce competition with cheap airlines, etc., so the company applied for the Civil Rehabilitation Law and the stock was delisted.
The company then proceeded with the rebuilding of management with the support of domestic investment funds, and in October of last year, it applied for relisting of shares on the Tokyo Stock Exchange.
However, with the spread of the new coronavirus infection,
▽ The business environment is rapidly deteriorating as the number of passengers on both domestic and international flights declines.
Since the stock market is fluctuating, the board of directors decided to cancel the application once.
The company intends to reconsider the application for relisting while looking at the business environment, but the timing is yet to be determined. Due to the spread of the new coronavirus, the business environment of airlines, including major companies, is rapidly deteriorating and the impact is spreading.