Jetstar, JAL To Launch Low-Cost Carrier – Report

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Published: August 12, 2011

Qantas unit Jetstar Airways has agreed to form a JPY¥3 billion (USD$ 39 million) low-cost carrier joint venture with Japan Airlines and Mitsubishi, the Nikkei business daily reported.

Jetstar Japan, which will use the Australian firm’s brand as well as its operation, reservation and sales systems, will begin domestic and international flights out of Narita airport by December 2012, the Nikkei said.

Mitsubishi is expected to reduce its 33.4 percent interest in the company by next summer, when new shareholders are brought in. It is looking to make a profit by handling the leasing of Airbus aircraft to the new carrier, the daily added.

Jetstar recorded highest sales among budget carriers in the Asia-Pacific region last year, the Nikkei said.

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