Skymark Airlines Inc., the nation's third-largest carrier, which filed for bankruptcy protection last week after its moves to buy a fleet of Airbus A380 superjumbos to expand into the international flight market flopped, should seek to rebuild itself by refocusing on and consolidating its domestic operations.
Established in 1996 to begin flights between Tokyo's Haneda and Fukuoka, Skymark was the first of new Japanese carriers created during the deregulation trend for the airline market, long dominated by major players like Japan Airlines and All Nippon Airways.
After struggling to survive with its discount fare service for several years at first, Skymark made a successful turnaround in the mid-2000s under new management that pulled out from unprofitable routes and concentrated resources on popular flights to and from Haneda airport, posting operating profits for four consecutive years to March 2013.