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Jetstar Japan completes leasing for 24 aircraft
- Five leading lessors provide leasing for aircraft valued at over US$2bn (based on Airbus list price)
- Aircraft sourced via existing Qantas Group orders
- Important financial milestone for Jetstar Japan
Jetstar Japan has finalised arrangements with five lessors that will purchase and lease 24 new Airbus A320 aircraft that Jetstar Japan will receive in the next three years.
All of the aircraft have been sourced through the Qantas Group’s existing fleet orders, allowing access to early delivery slots.
The Tokyo-based low fares airline started its commercial flights on 3 July with three of the new Airbus A320 aircraft configured for 180 passengers. Its fourth aircraft will be delivered next month.
The agreements are with five leading leasing companies, including Jetstar Japan shareholders Mitsubishi Corporation (through MC Aviation Partners), which will lease five aircraft, and Century Tokyo Leasing, which will lease six aircraft.
GE Capital Aviation Services, Hong Kong Aviation Capital and Jackson Square Aviation are lessors for six, four and three aircraft respectively.
The five lessors were selected after a competitive tender process involving numerous global leasing organisations.
Chief Executive Officer of Jetstar Japan, Miyuki Suzuki, said finalising lease agreements for its fleet so early on reflected positive market sentiment towards Jetstar Japan’s prospects.
“It’s unique for a start-up airline to have completed such a large and complex set of transactions prior to the first flight and it’s a credit to the lessors we have selected,” said Ms Suzuki.
“Our lessors understand the value of the Jetstar brand, our strategy and our business model and are excited to be part of the success of the new airline.” Ms Suzuki added.
Before its first flight Jetstar Japan had sold well in excess of 100,000 fares. The airline will be operating up to 26 flights a day by the end of August 2012 and is planning to introduce international flights during 2013.
The Jetstar Group is one of the Asia Pacific's largest low fares network by revenue.
It is made up of Jetstar Airways (subsidiary of the Qantas Group) in Australia and New Zealand; Jetstar Asia in Singapore; Jetstar Pacific in Vietnam; Jetstar Japan; and, subject to regulatory approval, Jetstar Hong Kong.
Jetstar branded carriers operate more than 4,000 flights a week to more than 60 destinations. The Jetstar Group carried more than 25 million passengers in financial year 2014.