Skymark makes comeback to Japanese stock market

Yomiuri Shimbun file photo
A Skymark Airlines plane in December, 2020.

TOKYO (Jiji Press) — Skymark Airlines made a comeback to the Japanese stock market on Wednesday nearly eight years after it was delisted following its bankruptcy in 2015.

The Japanese airline fetched an initial price of ¥1,272 per share on the Tokyo Stock Exchange’s Growth section for startups, higher than its initial public offering price of ¥1,170.

Skymark, which operates 23 domestic routes from 12 airports, aims to return to a growth path by taking advantage of a recovery in air passenger demand from the COVID-19 pandemic.

The company raised some ¥13.8 billion through the IPO, planning to use the proceeds to introduce new aircraft and improve its finances damaged by the pandemic.