Qantas Sells Jetstar Japan Stake to JAL for Over $80M, DBJ Joins as Shareholder
Qantas Airways agreed to sell its 33.3% minority stake in budget carrier Jetstar Japan to Japan Airlines via a buyback, generating more than US$80 million for core operations. The government-owned Development Bank of Japan will become a new shareholder.
Qantas Airways has finalised an agreement to exit its investment in Jetstar Japan, the low-cost carrier it co-founded. The deal involves the sale of its 33.3% minority stake to Japan Airlines (JAL) through a share buyback.
The transaction will bring in over US$80 million in proceeds, which Qantas plans to reinvest into its core operations. As part of the restructuring, the state-backed Development Bank of Japan will become a new shareholder in the Japanese budget airline.
The strategic divestiture allows Qantas to sharpen its focus on its mainline business while realising value from a non-core holding. Jetstar Japan will continue to operate under JAL's control.
Source: First Squawk