Jetstar Asia still flying at a loss
Qantas Group increased its ownership in Orangestar Investment Holdings and its controlled entities (the Jetstar Asia Group) to 49% from a previous 45% on 08-Apr-09. This transaction was completed via a newly incorporated entity, Newstar Investment Holdings, in which Qantas also owns 49%. Through funding from Qantas Group, Newstar acquired 100% of the Jetstar Asia Group, providing Qantas Group with 100% of the economic interest in Jetstar Asia. Consequently, the Jetstar Asia Group is now included in the Qantas Group's financial statements, and was included for the first time in FY2008-09. But the numbers are not particularly good.
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