Qantas has increased its stake in Jetstar Japan via an equity injection “to support the airline’s growth”.
Both Qantas and Japan Airlines are injected a combined ¥11 billion (around A$120m) into Jetstar Japan via non-voting shares, taking their holdings in Jetstar Japan to 45.7 per cent each. Consequently, Mitsubishi Corporation and Century Tokyo Leasing’s shares will be diluted from 8.3 per cent each to 4.3 per cent.
“The equity injection will 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,” Qantas said in a October 31 statement.
Jetstar Japan began flying in July 2012 and currently operates 18 A320s to nine Japanese destinations.