SYDNEY – Qantas has announced a new ownership structure for Singapore-based Jetstar Asia and Valuair.
Qantas and the Singapore company Westbrook Investments said it had acquired all shares in Orangestar Investment Holdings, the previous ownership holding structure, via a new holding company Newstar Investment Holdings.
Westbrook will have a 51 per cent shareholding in Newstar and Qantas will hold the remaining 49 per cent.
Chong Phit-Lian will remain as CEO of both Jetstar Asia and Valuair.
Qantas boss Alan Joyce said the change in shareholder structure would see Jetstar Asia and Valuair more closely align with Jetstar’s Australian operations and provide a platform for the Jetstar brand to grow into more markets in the region in anticipation of more open skies across Asia.
