Australia's Qantas to exit Jetstar Japan in $52 million share buyback deal
Aug 4 : Qantas Airways said on Tuesday Jetstar Japan would buy back its 33.32 per cent stake in the budget carrier in an 8.2 billion yen ($52.11 million) deal, paving the way for it to come under Japanese ownership and rebrand under a new name.As part of the deal signed by Qantas, Japan Airlines and other sha
Source excerpt
Aug 4 : Qantas Airways said on Tuesday Jetstar Japan would buy back its 33.32 per cent stake in the budget carrier in an 8.2 billion yen ($52.11 million) deal, paving the way for it to come under Japanese ownership and rebrand under a new name.
As part of the deal signed by Qantas, Japan Airlines and other shareholders, Jetstar Japan will buy back Qantas' minority stake, while the Development Bank of Japan will join as a new shareholder.
Japan Airlines and Tokyo Century will retain their respective stakes.
After Qantas' divestment, Jetstar Japan will rebrand to drop the "Jetstar" brand as it seeks to strengthen its position in Japan's low-cost carrier market.
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