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May 23, 2017

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Skymark shares slump after Airbus cancels deal with Japan budget airline

TOKYO--Shares in Skymark plunged for a second straight day Wednesday wiping out a quarter of its value — about US$64 million — after Airbus said it has cancelled a deal with the Japanese budget airline worth more than US$2 billion.

The firm closed down 13.60 percent at 216 yen after the European plane-maker late Tuesday said it had pulled out of the deal for the purchase of six A380 superjumbos, with reports saying it was over concerns about payment.

It had already slumped 13 percent Tuesday in response to a French newspaper report that Airbus was about to make the move.

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