The Qantas Group will sell all of its shares in Jetstar Japan.
The Development Bank of Japan (DBJ) is expected to participate in the management of the Japanese airline as a new shareholder. Subject to future discussions and approvals from the relevant authorities, the Qantas Group is expected to transfer all of the Jetstar Japan shares it holds. The transferee has not yet been determined.
Japan Airlines (JAL) and the Qantas Group have signed a memorandum of understanding toward the sale of the shares. After the sale, the Qantas Group will concentrate its management resources on its core businesses in Australia and accelerate its fleet renewal plan. The “Jetstar” brand will be replaced with a new brand.
The current shareholding ratio in Jetstar Japan is 50% by JAL, 33.32% by the Qantas Group, and 16.68% by Tokyo Century. Tokyo Century will continue to hold its shares.
Following the final agreement on the shareholders’ agreement and brand transition as early as July, a new brand will be announced as early as October. The share transfer procedures and brand transition are scheduled to be completed by June 2027.
Notice
This article was generated using automatic translation by GPT-4 API. The translation may not be accurate.
