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Qantas denies signature of Jetstar/JAL LCC; looking at options in Asia

4-Jul-2011 10:18 AM

Qantas Airways denied that an agreement has been reached on a JV between Jetstar and Japan Airlines over plans to launch an LCC in the Japanese market in 2012 (WAToday, 04-Jul-2011). "Qantas Group is looking at a range of opportunities across the Asia region. However, no agreements have been reached with any parties," a spokesman said. It has been reported that the two carriers are planning to launch domestic Japanese services in 2012, with the venture to be capitalised at between JPY10 billion and JPY20 billion (USD124 million and USD248 million) (The Nikkei/Reuters, 01-Jul-2011). According to reports, JAL and Jetstar would each hold a 30% stake. Mitsubishi Corp and Toyota Tsusho Corp have reportedly been invited to invest in the deal, which JAL and Jetstar aim to finalise next month.