To strengthen its presence in Japan, Japan Airlines (JAL) has gained 50% of the voting rights stock in low cost carrier Jetstar Japan.
JAL - which previously had a 33.7% stake in the Jetstar Japan - acquired the additional 16.7% stake formerly owned by the Mitsubishi Corporation in a deal reportedly made in September. The company did not disclose the value of the acquisition.
With the move to increase its stake in Jestar Japan, JAL will be the majority shareholder while the remaining 50% is split between Australia's Qantas (33.3%) and Tokyo Century (16.7%).
Founded in 2011, Jetstar Japan one of three sister airlines of the Australian-based Jetstar Group marketed together with the Jetstar brand. The group has a 100% ownership of Jetstar Airways in Australia/New Zealand, and stake in Jetstar Asia Airways (Singapore) and Jetstar Pacific (Vietnam) along with its brand in Japan.
Based in Narita, Japan, Jetstar Japan currently operates a fleet of around 20 aircraft to 18 destinations in Japan and Asia. The budget carrier operates an all-Airbus A320 fleet, and will acquire 3 A321LR in 2020.