Vietnam Airlines to hold majority share in Jetstar Pacific.
Qantas has confirmed overnight that Vietnam Airlines will become its partner in Vietnamese offshoot Jetstar Pacific, with VN to take over the stake currently held by the Vietnamese government.
QF ceo Alan Joyce said the new partnership with Vietnam Airlines represented an extension of the Qantas/Jetstar dual brand strategy in one of the world’s fastest growing aviation markets.
“We are confident that this partnership between a low cost carrier and a full service airline in Vietnam can replicate the success of our Qantas and Jetstar strategy in Australia,” he said.
And Jetstar Group ceo Bruce Buchanan said the pact would strengthen Jetstar Pacific’s ability to create travel demand in the populous nation.
Jetstar Pacific will receive a capital injection of $25m, including $7.5m from the Qantas Group, which will be directed towards replacing its existing 737 fleet with new Airbus A320s from mid-2012.
Jetstar Group and Vietnam Airlines expect to announce a new ceo and chairman for Jetstar Pacific in the coming weeks, with Buchanan saying that Vietnam remains key to the group’s expansion plans across the Asia Pacific region.
More information in today’s Travel Daily.
