New Ownership Structure for Jetstar Asia and Valuair

An agreement has been met regarding a new ownership and shareholder structure for Singapore based low cost airlines Jetstar Asia and Valuair.

Jetstar Asia and Valuair will more closely align operations with the Qantas Group’s Australian based low fares subsidiary Jetstar, after Singapore company Westbrook Investments and the Qantas Group, reached an agreement to acquire all shares in Orangestar Investment Holdings from the previous ownership holding structure.

When the transaction is completed, Westbrook, wholly owned by Mr Choo Teck Wong (Mr Dennis Choo), will have a 51% shareholding in Newstar and Qantas will have the remaining 49% in the holding company.

A new holding company - Newstar Investment Holdings - will see Westbrook’s investment maintain majority Singapore ownership and Mr Choo as Chairman.

Ms Chong Phit-Lian will continue to lead the organisation as Chief Executive Officer.

Jetstar Asia and Valuair CEO Ms Chong Phit-Lian said the benefits would be extensive but would not impact the airline’s operating flight schedule with no changes for employees.

“Jetstar Asia and Valuair remain open for business with no changes for our customers and this relationship will bring new growth opportunities and help us deliver every day low fares to them,” Ms Chong Phit-Lian said.

“Our organisation including a 280 strong workforce will derive many benefits through this closer coordination that will bring more opportunities and where our people’s expertise and strategic basing in Singapore can drive our ambitious pan Asian growth plans.”

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