Qantas Group will divest its full shareholding in Jetstar Japan, as the carrier transitions to a new Japanese ownership structure to support its next phase of growth.
Qantas Group has announced plans to divest its full shareholding in Jetstar Japan, as the Narita-based low-cost carrier transitions to a new Japanese ownership structure aimed at supporting its next phase of growth.
Qantas and Japan Airlines, the major shareholders in Jetstar Japan, have signed a non-binding Memorandum of Understanding (MoU) that would see the airline move to a Japan-based shareholder group, subject to final agreements and regulatory approvals.
Under the proposed transaction, the Qantas Group intends to sell its 33.32 per cent stake in Jetstar Japan. Development Bank of Japan is expected to enter as a new shareholder, while existing partner Tokyo Century Corporation plans to retain its shareholding. Japan Airlines will continue as the airline’s largest shareholder.
There will be no change to Jetstar Japan’s current ownership or governance arrangements until a final agreement is reached and the transaction is completed.
Following the divestment, Qantas said it will concentrate its resources on its core Australian businesses - Qantas and Jetstar Airways - as it continues to deliver the largest fleet renewal program in the Group’s history.
Qantas Group CEO Vanessa Hudson said the Group was proud of the role it played in establishing and growing Japan’s low-cost aviation sector.
“Jetstar Japan has been a pioneer in the Japanese LCC market for almost 14 years, carrying more than 55 million customers,” Hudson said. “We sincerely thank our Jetstar Japan team members for their unwavering commitment to safety, operational excellence and customer service.
“We’re confident the proposed new ownership structure will deliver strong outcomes for customers and support the airline’s long-term success, while allowing Qantas to focus on accelerating growth and renewal across our Australian operations.”
Qantas will continue to work closely with Japan Airlines during the transition, including through existing commercial partnerships and the one world alliance.
The proposed change in ownership will have no impact on its announced flight schedules. All flights currently on sale will operate as planned, and customers with existing bookings will be unaffected.
Qantas and Jetstar Airways international services to and from Japan will also continue unchanged, with codeshare arrangements between Qantas, Jetstar Airways and Japan Airlines remaining in place.
Under the proposed ownership structure involving Japan Airlines, Development Bank of Japan and Tokyo Century, Jetstar Japan will continue to operate as an independent low-cost carrier while pursuing new growth opportunities.
Plans for the airline’s next phase include a future brand refresh, expansion of its international network from Narita Airport, and a stronger role in supporting inbound tourism and regional revitalisation across Japan. Employment for Jetstar Japan staff will be maintained.
Japan Airlines President and Group CEO Mitsuko Tottori said the new structure would position Jetstar Japan for sustainable growth.
“We extend our deepest gratitude to Qantas for their 14-year partnership in developing the LCC market in Japan,” Tottori said. “This transition will allow us to respond more flexibly to market changes and maximise synergies with the JAL Group as Narita Airport continues to expand.”
Jetstar Japan CEO Masakazu Tanaka said the airline was entering a new chapter.
“We’ve built an amazing airline over nearly 14 years,” Tanaka said. “With the support of our new shareholder group, we look forward to continuing our growth while delivering even greater value to our customers.”
