A Skymark Airlines aircraft in 2015, before the airline filed for bankruptcy. (Photo: Wikimedia Commons)

A Look at Skymark Airlines and the Extent of Their Bankruptcy

On the evening of Jan. 28, 2015, Skymark Airlines of Japan filed for bankruptcy protection in the Tokyo District Court, reporting 71 billion yen in liabilities The catalyst for this bankruptcy: an ambitious $1.7 billion dollar order for six Airbus jumbos and the sudden drop in value of Japanese yen. At unit price, an Airbus A380-800 costs $414.4 million a piece. As a budget airline, should they have expanded this fast in such conditions? The answer is simply, no. The airline…