Qantas and Japan Airlines announce merger of Jetstar Japan
Jetstar Japan’s main shareholders, Japan Airlines and Qantas, have signaled a major transition to a new ownership structure based in Japan.
The airlines announced Tuesday that they have signed a non-binding memorandum of understanding to facilitate Jetstar Japan’s transition to a new Japanese equity-led ownership structure.
Tokyo Century will retain its existing shareholding, while the Development Bank of Japan plans to join as a new shareholder.
There will be no change in ownership or management of Jetstar Japan until a final agreement is reached and the transaction is completed.
Qantas CEO Vanessa Hudson said the airline was “incredibly proud of the leading role Jetstar Japan plays in the low-cost aviation sector in Japan.”
“We sincerely thank our Jetstar team members for their unwavering commitment to maintaining excellent safety, operational and service standards for millions of customers,” he said in a statement.
“We are confident that the new ownership structure will deliver greater value to customers by leveraging the Development Bank of Japan’s local and international aviation knowledge and industry expertise, as well as its strong, long-standing relationships with national and regional tourism bodies.
“We thank Japan Airlines for their strong partnership and look forward to continuing to work together during the transition.”
The final shareholders agreement and brand transition will take place this July.
An announcement about the new brand will be made in October.
