Qantas Airways will sell its 33% stake in Narita-based Jetstar Japan, ending a 14-year joint venture with Japan Airlines and Tokyo Century.
This decision was formalized through a non-binding Memorandum of Understanding (MoU) signed with Japan Airlines on February 3, 2026.
The goal of this agreement is to transition Jetstar Japan to a Japanese-led ownership structure to “set the airline up for its next phase of growth, sustainable development and success.”
In a statement released on February 3, 2026, Qantas said that the new ownership structure will be led by Japanese investors, with the Development Bank of Japan joining as a shareholder.
Meanwhile, Tokyo Century, a financial services and leasing company based in Japan, will keep its 16.68% stake in Jetstar Japan.
The deal is anticipated to be completed by July 2026, with the transfer of shares and brand change finished by June 2027.
“We’re confident the new ownership structure will deliver greater value to customers, benefitting from the Development Bank of Japan’s domestic and international aviation knowledge and industry expertise as well as their strong, long-standing relationships with national and regional tourism bodies,” said Vanessa Hudson, CEO, Qantas Group.
With the new ownership, Jetstar Japan intends to refresh its brand from “Jetstar” to a new brand and expand its international network, centered on the future expansion of Narita International Airport (NRT).
“As we look to the next chapter in Jetstar Japan’s history, I am pleased to work with the new ownership group to lead our low cost carrier into the future,” added Masakazu Tanaka, CEO and Representative Director of Jetstar Japan.
Jetstar Japan said its current operations, bookings, and codeshare agreements with Qantas and Japan Airlines will not be impacted during the transition.
The carrier currently operates flights to 15 domestic and four international destinations, managing 18 domestic and six international routes.