Jetstar has reiterated its commitment to Jetstar Pacific and dismissed erroneous claims that the Vietnam-based low cost carrier is to be absorbed as part of a proposed airline deal.
Jetstar Pacific is majority owned by the Vietnamese State Capital Investment Corporation (SCIC) and 27 per cent owned by the Qantas Group.
The misleading claims stem from reports of a proposed ownership swap between SCIC and Vietnam Airlines – a swap that the Qantas Group has publicly said it supports. The Qantas Group’s 27 per cent share would be unaffected by the deal.
Contrary to reports, no agreement has been formalised and the ownership structure for Jetstar Pacific remains unchanged.
Jetstar Group CEO, Bruce Buchanan, said Vietnam Airlines would be welcomed as a partner in Jetstar Pacific and it remained committed to the Vietnamese market as part of its broader pan-Asian strategy.
According to International Air Transport Association (IATA), Vietnam will become the world’s second fastest growing aviation market for domestic passengers by 2014.
The Jetstar Group is one of Asia Pacific’s fastest growing airline brands with one of the most extensive ranges of destinations in the region. 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, and Jetstar Japan in Japan. Jetstar branded carriers operate up to 4,000 flights a week to more than 70 destinations across Asia Pacific. The Jetstar Group carried more than 29 million passengers in financial year 2015.