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February, 20, 2017

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Shares of Skymark sink deeper after quarterly report shows loss

TOKYO--Shares in Skymark Airlines tumbled more than 10 percent Friday after the budget airline embroiled in a row with Airbus said its quarterly loss had ballooned.

Skymark Airlines fell 10.52 percent to close at 187.0 yen, adding to a string of sharp drops this week.

The stock has lost more than one third of its value, or 9.2 billion yen (US$90 million), since the row with Airbus came to light.

Airbus said on Tuesday it had cancelled a US$2.2-billion jet order from Skymark, even as the airline said it was still negotiating with the airplane manufacturer to "revise" the multi-plane order.

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