Japanese travel agency H.I.S. Co. reduced its stake in Skymark Airlines Inc. from 7.68 percent to 6.49 percent by the end of last month, according to a report filed Tuesday with a finance bureau of the Finance Ministry.
H.I.S. sold shares in the Japanese airline, which is in disputes with Airbus S.A.S. over its planned purchase of A380 jets, from June 11 to July 29 in markets, reducing the number of Skymark shares it holds to 5,926,100.
"We hold shares (in Skymark) for pure investment, but since we could make capital gains, we sold them in consideration of share prices," an official of H.I.S. said.
On July 29, Skymark said it is having rocky negotiations with Airbus over its planned introduction of Airbus A380 jets. Two days later, the airline said in its earnings report for the April to June quarter reflecting auditors' opinion that there are serious questions over the possibility of Skymark continuing its businesses.