Qantas Airways is set to divest its shareholding in Jetstar Japan as the low-cost carrier becomes a fully Japan owned airline.
Qantas Group is offloading its 33.32% stake in Jetstar Japan while the Development Bank of Japan will join as a shareholder.
Major shareholders Japan Airlines and Tokyo Century Corp are expected to retain their 50% and 16.7% stakes.
Jetstar Japan was founded as a joint venture of Qantas, JAL and Mitsubishi Corp.
“By moving to this new structure, we will respond flexibly to market changes and maximise synergies with the JAL Group to achieve sustainable growth,” Japan Airlines Group CEO Mitsuko Tottori said.
