17-Aug-2011 10:06 AM

Jetstar Japan aiming for sales fo USD1.3bill in few years; likely to be quickly profitable: Jetstar

Jetstar Group CEO Bruce Buchanan stated (16-Aug-2011) Jetstar Japan, a proposed low cost airline JV between Japan Airlines, Qantas and Mitsubishi Corp, aims for sales of JPW100 billion (USD1.3 bilion) in "a few years" (Dow Jones, 16-Aug-2011). Despite the rising yen and a recent slump in tourism levels to Japan (following the 11-Mar-2011 earthquake and tsunami), Mr Buchanan expressed confidence in turning the joint venture profitable soon, noting that most of the businesses at Jetstar became profitable early on in their launch. Jetstar Japan plans to set its fares around 40% below the average in Japan. [more - Perspective]