Australia’s Qantas to exit Jetstar Japan in S$67 million share buyback deal
Qantas said the move would allow it to redirect capital towards operations in Australia.
Qantas Airways has announced a S$66.77 million share buyback deal with Jetstar Japan, which will result in the budget carrier exiting the partnership and transitioning to Japanese ownership. The deal, signed on Aug 4, involves Jetstar Japan repurchasing Qantas' 33.32% stake, with Japan Airlines and Development Bank of Japan joining as new shareholders.
Japan Airlines and Tokyo Century will retain their respective stakes in Jetstar Japan. Following the divestment, Jetstar Japan will rebrand by dropping the "Jetstar" brand to strengthen its position in Japan's low-cost carrier market. Qantas aims to redirect capital towards its Australian and international operations as a result of the transaction, which is expected to generate an estimated A$115 million gain for the airline in items outside underlying earnings, predominantly in 2027.
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