Qantas and Japan Airlines announce combined equity injection of USD93m to Jetstar Japan

Qantas Airways and Japan Airlines announced (28-Nov-2014) a combined equity injection of JPY11 billion (USD93 million) to Jetstar Japan to support further domestic growth and the start of international flying in early 2015. The equity injection, in the form of non-voting shares, will be equally shared by both Qantas and Japan Airlines over two investment tranches. There will be no change to the total voting interest of each shareholder. The investment will support the start of international operations in "early calendar 2015" with international ticket sales expected before the end of Dec-2014. The first investment tranche of JPY3.5 billion (USD29.6 million) each will be made on 28-Nov-2014, which will increase each airline's economic interest from 45.7% to 46.7%. At the completion of the recapitalisation, Qantas and Japan Airlines' economic interest will increase to 47.1% each. The economic interest of Mitsubishi Corporation and Century Tokyo Leasing will decrease from 4.35% to 2.94% each. [more - original PR]