Qantas and Japan Airlines have signed a binding agreement to restructure ownership of Jetstar Japan, with Qantas selling its 33.3% stake through a share buyback. The deal brings in the Development Bank of Japan as a new shareholder while Japan Airlines and Tokyo Century retain their existing holdings, and it is due to be completed by June 2027.
Qantas valued the transaction at ¥8.2 billion and expects a pretax gain of about A$115 million. Proceeds will be redirected toward core operations in Australia, while Jetstar Japan moves toward a Japanese capital-led ownership structure and a full rebrand.
Jetstar Japan currently flies 18 domestic and six international routes from Narita. Qantas said the change will not affect Jetstar Airways or Qantas international services between Australia and Japan, and it will not alter codeshare arrangements with JAL. The Australian group had already flagged its intention to exit the stake in February, and the agreement formalises that plan.