Qantas Group to sell Jetstar Japan shareholding

By Andrew Curran.

The Qantas Group is selling its 33.32% stake in Jetstar Japan, according to a February 3, 2026, Australian Stock Exchange filing. The sale will see the low-cost carrier transition to 100% Japanese ownership and draws a line under the Qantas Group’s various Jetstar-branded joint ventures.

The Qantas Group will sell its shareholding to the Development Bank of Japan, while primary shareholder Japan Airlines keeps its 50% stake and minority shareholder Tokyo Century retains its 16.68% shareholding.

The change in shareholding, which is due to finalise by mid-2027, won’t have any impact on Jetstar Japan’s day-to-day operations but the airline will rebrand, dropping the Jetstar name.

The stock exchange filing says the divesture will allow Qantas to focus its “ongoing capital investment into Qantas and Jetstar’s domestic and international operations in Australia.”

Existing Jetstar flights between Australia and Japan, which are operated by the Australia-based Jetstar Airways, are unaffected, as are the existing code share arrangements between Qantas and Japan Airlines.

The Qantas Group has held a stake in Jetstar Japan since its foundation in 2011, although the company has gradually wound the shareholding down over the years.

“We are incredibly proud of the pioneering role Jetstar Japan has played in the low-cost aviation sector in Japan,” said Qantas Group CEO Vanessa Hudson. “We thank Japan Airlines for their strong partnership and look forward to continuing to work together during the transition and in oneworld.”

The end of the road for the Jetstar joint-ventures

The divesture marks the end of a series of joint ventures whereby the Jetstar brand was launched in various Asian markets, including Jetstar Pacific in Vietnam (Qantas sold its stake to Vietnam Airlines in 2020 and the airline returned to its old brand name, Pacific Airlines) and Jetstar Asia (Qantas shuttered the loss-making Singapore-based airline last year).

Plans to launch Jetstar Hong Kong early last decade in partnership with China Eastern Airlines never took off.

Whereas the Qantas Group has struggled with its Jetstar joint ventures, Australia’s Jetstar Airways has proved very successful and a lucrative cash cow for the parent entity. The now two-decade plus old airline reported earnings before interest and taxation of AUD769 million (USD539.5 million) in the 12 months to June 30, 2025.

That amount breaks down into AUD462 million (USD324.1 million) from Jetstar Airways’ Australian domestic operations and AUD307 million (USD215.4 million) from international operations.

The Jetstar Japan divesture, now the subject of a non-binding memorandum of understanding between the various parties, is also subject to regulatory approval.

You can read the stock exchange filing here.

Photo: Jetstar.

Contact the writer: andrew@aerosouthpacific.com