Shares of Skymark sink deeper after quarterly report shows loss
August 2, 2014, 12:04 am TWN
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.