Qantas reportedly selling Jetstar Pacific stake
Flag carrier Qantas is reportedly trying to offload its minority stake in Vietnam based LCC Jetstar Pacific.
Qantas has a 30% stake in the airline, with the remaining 70% held by Vietnam Airlines.
It is apparently in talks to sell its share to Vietnam Airlines, according to local media outlet Vietnam.net
No final agreement has been made and discussions continue, it reports.
Jetstar Pacific has consistently been in the red for many years but recently turned a small profit in 2018.
If Qantas sells its stake the airline may have to rebrand as Qantas owns the Jetstar brand name.
Jetstar Pacific was originally established as Pacific Airways before Qantas bought a stake.
If Vietnam Airlines assumes 100% ownership of Jetstar Pacific if may discontinue the brand and absorb it into the main Vietnam Airlines operation or continue it as a fully owned low cost brand to compete with dominant player Vietjet.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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