Qantas Group and Japan Airlines have signed a binding deal to reshape ownership of Jetstar Japan, with Qantas set to sell its 33.32% stake through a share buyback by the low-cost carrier. The transaction will move the Japan-based airline toward a Japanese capital-led structure while leaving current Australia-Japan services and Qantas-JAL codeshares unchanged.
Jetstar Japan will bring in the Development Bank of Japan as a new shareholder, while Japan Airlines and Tokyo Century Corporation keep their existing stakes. Qantas will exit the venture entirely once the deal closes, which is expected by June 2027, subject to regulatory approval.
The share buyback is valued at JPY 8.2 billion, and Qantas expects an about A$115 million gain outside underlying earnings, with most of the benefit falling in FY27. The group will free up capital for its Australian domestic and international operations, while Jetstar Japan plans to adopt a new identity after dropping the Jetstar brand.