Japan fund says no need for others to help finance Skymark Airlines rescue

TOKYO: The head of Japanese private equity firm Integral Corp said it won't need additional external financing help as it works on plans to rescue Skymark Airlines Inc, the budget carrier which sought court protection from creditors this week.

The comment by Integral's Nobuo Sayama came as larger Japanese airline ANA Holdings Inc told reporters in Tokyo that it was waiting for more information before deciding whether to seek to sponsor Skymark's revival.

In a telephone interview, Sayama told Reuters Integral welcomed the prospect of cooperation but additional financing would not be necessary for now. He said the fund was in talks to provide financing for Skymark and that more money from third parties would not be needed "for months or a year".

Japan's leading independent budget airline, Skymark sought protection from creditors blaming a weak yen, pushing up its costs, and a dispute with jet maker Airbus Group for its financial straits. It said in a statement on Wednesday its liabilities were 71.09 billion yen as of its filing with the Tokyo District Court.