The National, Tuesday November 5th, 2013
QANTAS Airways and Japan Airlines last Thursday acquired a stake in Jetstar Japan to support the airline’s 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 about K275 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 and Century Tokyo Leasing will have 4.3% each of the low-cost carrier, down from 8.3% each.
The equity injection would support Jetstar Japan’s future fleet and infrastructure growth, enabling the carrier to capitalise on the significant potential of the low- cost carrier market in the world’s third largest economy.
Jetstar Japan began operations last July 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.