Japan’s Skymark Airlines is close to reaching a settlement regarding penalties it will have to pay for canceled Airbus A380 orders, according to local press reports. Airline executives appear to be optimistic negotiations with Airbus will yield a reduced cancellation fee. The news caused Skymark stock to increase by almost 4% on Oct. 2, while most Japanese stocks declined. Airbus terminated the order in July due to concerns about the carrier’s ability to make payments.

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