The Development Bank of Japan will acquire an equity interest, entering as a new shareholder.<\/p>\n
The share buyback was valued at \u00a58.2 billion ($88.6 million).<\/p>\n
Tokyo Century Corporation and JAL will keep their existing shareholding positions.<\/p>\n
Following the divestment, Jetstar Japan would change its name to a new brand.<\/p>\n
The airlines said today\u2019s announcement followed a February non-binding memorandum of understanding.<\/p>\n
The transition is expected to be done by June next year.<\/p>\n
Japan last year was the world\u2019s fifth-biggest passenger market, after the US, China, UK and Spain.<\/p>\n
Jetstar Japan operates to 15 cities in Japan.<\/p>\n
It is headquartered at Narita, home of Tokyo\u2019s second-biggest airport.<\/p>\n
It also flies from Japan to international destinations including Manila, Bali and Hong Kong.<\/p>\n
The airline operates Airbus A321neo and A320 aircraft.<\/p>\n
Jetstar announced plans to establish the airline in 2011 and the airline started flying the following year. <\/p>\n
Last year, Qantas announced it would close Singapore-based Jetstar Asia<\/a>.<\/p>\n It said that would lead to redeployment of more than a dozen aircraft to New Zealand and Australia.<\/p>\n Qantas today said the Japan divestment would have no impact on Qantas or Jetstar international services between Australia and Japan.<\/p>\n It said the deal would also not affect any codeshare arrangements with JAL.<\/p>\n