SINGAPORE, 5 February 2026: Qantas and Japan Airlines announced on Tuesday that they have signed a non-binding Memorandum of Understanding to facilitate the transition of Jetstar Japan to a new Japanese capital-led ownership structure.
Subject to reaching agreement on the transaction and regulatory approvals, the proposed transaction would see Qantas divest its minority (33.32%) shareholding in Jetstar Japan, with the agreement expected to be reached in July 2026 and the transition complete by June 2027.
There will be no change to Jetstar Japan’s current shareholding or governance structure until an agreement is signed and the transaction is complete.
The transaction will position Jetstar Japan for its next phase of growth in Japan and enable the Qantas Group to focus its ongoing capital investment on Qantas and Jetstar’s domestic and international operations in Australia.
The joint statement reassures partners and travellers that there will be no impacts on Qantas or Jetstar international services between Australia and Japan, and no impacts on codeshare arrangements with JAL.
New shareholder group’s plan
Brand refresh: Following any QAG divestment, JJP will refresh its brand from ‘Jetstar’ to a new brand, further establishing itself as a leading Japanese LCC under this new brand and identity.
Expansion of international network: As the largest LCC at Narita Airport, JJP will proactively expand its global network, with a focus on future growth at Narita Airport.
Contribution to regional revitalisation: By strategically capturing inbound demand and utilising its extensive domestic network to direct passengers to regional areas, JJP will further revitalise Japan’s regional economies and promote Japan as a tourism-oriented nation.
Qantas Group CEO Vanessa Hudson said: “We’re incredibly proud of the pioneering role Jetstar Japan has played in the low-cost aviation sector in Japan and sincerely thank our Jetstar team members for their unwavering commitment to maintaining excellent safety, operational and service standards for millions of customers.
“We’re confident the new ownership structure will deliver greater value to customers by leveraging the Development Bank of Japan’s domestic and international aviation knowledge and industry expertise, as well as its strong, long-standing relationships with national and regional tourism bodies. We thank Japan Airlines for their strong partnership and look forward to continuing to work together during the transition and in oneworld.”
Future schedule
July 2026: Final agreement on the shareholders’ agreement and brand transition.
October 2026: Announcement of the new brand.
June 2027: Completion of share transfer procedures and brand transition.
Shareholders with voting rights:
Qantas holds 33.32%;
Tokyo Century holds 16.68%;
Japan Airlines holds 50.00%.
Qantas will divest its stake in Jetstar Japan, and the agreement will enable the Development Bank of Japan to join the new ownership structure.
About Jetstar Japan
Jetstar Japan began operating domestic routes in 2012 July and international routes in 2015 February. Currently, Jetstar Japan flies to and from 15 domestic and four overseas destinations, operating 18 domestic and six international routes. More than 55 million customers flew with Jetstar Japan. Jetstar Japan is a joint venture between the Qantas Group, Japan Airlines, and Tokyo Century Corporation.
(Source: Qantas)
