Qantas ready to grab “historic opportunity” in Asia
SYDNEY – Qantas is looking for further opportunities to spread its Jetstar network through Asia.
Qantas is spending US$50 million investing in Vietnam’s second-biggest carrier, taking an 18 per cent stake in Pacific Airlines, rising to to 30 per cent in the next two years.
Qantas plans eventually to include Pacific as a franchise operating under its Jetstar brand, as a part of a strategy to further expand its presence in Asia.
Under the deal, Jetstar chief executive Alan Joyce and the airline’s chief financial officer, David Hall, will represent the Qantas Group on Pacific Airlines’ six-member board.
Qantas and Jetstar executives will also fill a number of key management roles in the airline.
Qantas CEO Geoff Dixon said that Qantas would continue to work with Pacific Airlines and investment partner State Capital Investment Corp to implement an agreed new business plan for the carrier, which currently operates a fleet of single-class Boeing 737-400 aircraft on domestic routes in Vietnam.
“The initial strategy is to reposition Pacific Airlines as Vietnam’s only low-cost carrier, to enable its future expansion both within Vietnam and, in the future, internationally, through short-haul, intra-Asia services,” Dixon said.
The new airline will see Jetstar’s expanding Asia reach bolstered by Pacific’s routes between Ho Chi Minh City and Da Nang and Hanoi, as well as international routes to Taipei.
Qantas is also looking at opportunities beyond Vietnam and says the most likely markets are Indonesia, Thailand or the Philippines.
Dixon told the National Aviation Press Club the airline was looking for Asian acquisitions to expand its business and capitalise on an escalating market.
“This is a historic opportunity for Qantas, ” he said. “We have a small time slot, perhaps three years, to make ourselves an indispensable part of this growth story.
“We are looking at taking advantage of other attractive openings for growth in Asia, organically, via acquisitions or partnerships, to ensure we merit a chapter in what will be the biggest aviation story of the next 20 years.”
Qantas this week announced a new fuel surcharge on international flights, inreasing it by between $5 and $15 one-way.
Ian Jarrett
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