Jetstar Asia withdraws from deal with Valuair

Jetstar Asia has confirmed that it has withdrawn its offer in a deal being discussed with Valuair, a budget carrier, also based in Singapore.

Mr. Ken Ryan, CEO of Jetstar Asia said, “In the airline industry, you can grow organically or through acquisitions. The Valuair opportunity gave us the chance to do both at the same time. It would have been good if we were able to reach agreement, but the fact that we didn’t doesn’t impact our ongoing business expansion. The key thing has always been the support of our shareholders and the ability to provide better value to our customers”

Jetstar Asia is to take delivery of its fifth aircraft later this year. The aircraft was planned to be leased to Atlasjet Airways but has been withdrawn from the lease arrangement. In addition, discussions are being held with Qantas to source additional aircraft.

Jetstar Asia is also in the process of seeking approvals from the Cambodian authorities to fly into Phnom Penh and Siem Reap, and the Indian authorities to commence services to Kolkata.

Mr. Ryan concluded by saying, “We will be unveiling a range of offerings with additional depth and breadth to customers in the next few months. We are confident that with the continued support from our shareholders and customers, Jetstar Asia’s value-for-money business model will be further strengthened.”

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