Qantas Increases Share in Jetstar Japan

Travel News Asia Latest Travel News Podcasts Videos Thursday, 31 October 2013

Qantas has provided an equity injection to Jetstar Japan to support the airlines growth.

Jetstar Japan is a joint venture between the Qantas Group, Japan Airlines, Mitsubishi Corporation and Century Tokyo Leasing Corporation.

A combined equity injection of 11 billion (equivalent to approximately A$120 million), in the form of non-voting shares, will be equally shared by the two major shareholders, Qantas and Japan Airlines.

The investment will increase Qantas and Japan Airlines economic interest from 41.7% each to 45.7% each. Mitsubishi Corporation and Century Tokyo Leasing will have 4.3% each of the low cost carrier, down from 8.3% each.

The equity injection will support Jetstar Japans future fleet and infrastructure growth, enabling the carrier to capitalise on the significant potential of the low cost carrier market in the worlds third largest economy.

Jetstar Japan commenced operations on 1 July 2012 and is now operating a fleet of 18 aircraft to nine domestic destinations. The airline expects to grow its fleet to 24 aircraft, with funding for each aircraft already secured.

Jetstar Japan has carried nearly 3 million passengers since commencing operations.

In June this year Qantas reduced its maximum planned equity investment in Jetstar Hong Kong from US$99 million to US$66 million, following the introduction of a third shareholder into that venture.

Qantas, Jetstar, Stake, Mitsubishi, Japan

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