$114 million investment in Japanese carrier.
Qantas and Japan Airlines have just announced a combined equity injection of ¥11 billion (about A$114 million) into Jetstar Japan, boosting their respective stakes in the carrier to 47.1%.
The move will “support the airline’s growth as it continues to expand its Japanese domestic operations and prepares for the start of international flying early next year,” according to a Qantas statement just posted on the Australian Stock Exchange.
Details of Jetstar Japan’s proposed new international destinations are not yet available, but the carrier said it expects to start selling tickets on the overseas routes before the end of next month.
Currently Jetstar Japan operates a fleet of 19 A320 aircraft covering 11 domestic destinations within Japan. Qantas has also today announced a wide-ranging codeshare agreement with the Japanese offshoot.
Qantas will also commence daily flights from Australia to Tokyo Haneda airport in August 2015, the carrier has confirmed.
Once the recapitalisation of Jetstar Japan is complete the economic interests of Mitsubishi Corporation and Century Tokyo will decrease from 4.35% to 2.94% respectively.
More information in today’s issue of Travel Daily.