August 19, 2014 / 12:35 AM / 3 years ago

Skymark shares surge 28 pct after report AirAsia weighing bid

TOKYO, Aug 19 (Reuters) - Shares of Skymark Airlines Inc jumped 28 percent on Tuesday after the Nikkei business daily reported that Malaysia’s AirAsia Bhd is in talks with financial institutions on a possible tender offer for the struggling Japanese carrier.

As of 0026 GMT Skymark shares were up by the daily limit of 50 yen at 230 yen, compared with a five-year low of 153 yen set last week.

The stock has been hammered since Skymark’s order for six Airbus A380 superjumbos fell through in late July after it was unable to get financing. Skymark warned of uncertainty about its ability to stay in business if it had to pay penalties to Airbus over the cancellation.

The Tokyo Stock Exchange on Tuesday cautioned Skymark for lack of information following the Nikkei media report. (Reporting by Chris Gallagher; Editing by Chang-Ran Kim)

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