Qantas to Exit Jetstar Japan as Airline Shifts to Full Japanese Control

Qantas is preparing to sell its full holding in Jetstar Japan. Under a non-binding deal announced Tuesday, the Australian flag carrier intends to divest its 33.32% stake in the low-cost firm.

Japan Airlines will remain as the largest shareholder, with the Development Bank of Japan set to enter the ownership structure alongside financial group Tokyo Century. The transaction is expected to be finalized by mid-2027, subject to regulatory approvals.

In a joint market filing, the companies said the move would position Jetstar Japan for “its next phase of growth and sustainable development.” 

The airline, based at Tokyo’s Narita Airport, has long been a relative outlier in the Jetstar portfolio. Unlike the core Jetstar Airways operation in Australia, Qantas has held only a minority stake in the Japanese unit, limiting strategic control yet still tying up capital. 

The new Japanese capital-led structure effectively localizes the airl