It just seems nonsense that you can't edit contacts at Skype iPad version, I know less is more, but perhaps too less is actually less.
So how can you edit contacts at Skype iPad version?
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It appears that it is currently not possible to edit contacts in Skype for iPad.
This Skype KB article mentions viewing and deleting contacts, but makes no mention of editing contacts. This is in contrast to the related articles for other systems such as Windows/Mac that does mention editing contacts.
In addition, this Skype Community thread asks the question and is met by a moderator's response mentioning that it is not possible:
Skype contacts can be add and removed in the Skype iPad application. You can add a contact by adding them in a menu, removing a contact can be done on the same way to remove an application (Keep your finger on a contact in your home Skype screen for several seconds, then use the cross on the right top of the contact).