Japan Airlines, Qantas Group and Mitsubishi Corporation to form Jetstar Japan
- Company Name: Jetstar Japan Co Ltd;
- Ownership (voting rights basis): The Qantas Group, JAL and Mitsubishi Corporation will each hold 1/3 share in the new company (voting-rights-basis);
- Total capitalisation commitment: Initial capital of JPY4 billion, increasing to JPY12 billion (USD156 million) post commencement of operations;
- Total investment base: Qantas 42%, JAL 42%, Mitsubishi Corporation 16%;
- Launch: Jetstar Japan will commence domestic operations by the end of 2012;
- Network: The carrier expects to operate from Tokyo Narita and Osaka Kansai International, with other destinations under consideration including Sapporo, Fukuoka and Okinawa. Jetstar Japan also plans to ultimately offer short haul international services to key Asian cities, with Qantas CEO Alan Joyce separately stating international services will commence within a year;
- Base: To be confirmed;
- Fleet: The airline will launch with an initial fleet of three new A320 aircraft, configured with 180 seats in a single class, growing to 24 aircraft within its first few years;
- Employees: 150 people in the first year, increasing to 800 within a few years;
- AOC: Jetstar Japan is expected to be established and an AOC is expected to be lodged in Sep-2011;
- Jetstar: JAL President Masuri Onishi said the partnership with Jetstar is a two-airline strategy that will allow the Japanese carrier to competitively serve a larger part of the Japanese market. [more]
Qantas Group: “The Qantas Group has a long history of serving the Japanese air travel market, with Qantas and Jetstar operating regular services between Australia and Japan. Qantas and JAL have a long-standing relationship, as codeshare partners and fellow oneworld alliance members. We are also delighted to be joining with Mitsubishi Corporation - one of Japan’s great global brands – to launch Jetstar Japan, building on the successful expansion of the Jetstar brand across Asia. The Qantas Group has a wealth of experience in establishing low cost carriers and we’re looking forward to working with our two partners on this new venture which will offer low fares to the Japanese travelling public," Alan Joyce, CEO. Source: Company Statement, 16-Aug-2011.
JAL: “We are confident that Jetstar Japan will broaden the spectrum of travellers as it creates new demand in this market. It will encourage even more movement of people within the country and also increase the number of visitors from Asia to Japan. We anticipate this to stimulate consumer spending and play a role in revitalizing the Japanese economy. Jetstar’s entrance to Japan, as a proven successful low cost airline operator, will revitalise our domestic air transportation market. That is the reason for our participation, and we would like to support Jetstar Japan’s success in Japan as well as eastern Asia with our variety of services such as aircraft leasing," Masaru Onishi, President. Source: Company Statement, 16-Aug-2011.