TOKYO: Japanese investment fund Integral Corp. said Thursday it has concluded a contract to sell all of its shareholdings in Skymark Airlines to logistics group Suzuyo Holdings Co. for 3,568 million yen.

The sale of the shareholdings, equivalent to 5.9% of the Japanese budget airline’s outstanding shares, marks an end to Integral’s reconstruction support for Skymark from 2015, when the airline went bankrupt.

The investment fund has been reducing its shareholding in Skymark since the airline made its comeback to the Tokyo Stock Exchange in 2022.

Suzuyo, based in the central Japanese city of Shizuoka, acquired a 13% stake in Skymark from Integral in November last year. It is the top shareholder of Skymark.

Suzuyo has Fuji Dream Airlines, a regional airline based in the same city, under its wing. It will consider how the two airlines should collaborate.

Currently, ANA Holdings Inc., the parent of All Nippon Airways, is Skymark’s second-largest shareholder.

JIJI Press