‍CANBERRA — Qantas Group (QF) has announced it will sell its minority stake in Jetstar Japan (GK). The Australian carrier holds a 33.3% share in the low-cost airline. The Development Bank of Japan is expected to become a new shareholder following QF’s exit from GK.

“We’re confident the new ownership structure will deliver greater value to customers, benefiting from the domestic and international aviation expertise of the Development Bank of Japan,” said Vanessa Hudson, Group CEO of Qantas, in a statement.

What Comes Next for Jetstar Japan

Unlike Jetstar Asia (3K), Jetstar Japan (GK) will continue to operate following Qantas’s exit from the joint venture. The carrier is currently owned 50 per cent by Japan Airlines (JL), with Tokyo Century Corporation holding a 16.68 per cent stake.

Following Qantas’s exit, the airline is expected to shed the Jetstar brand, paving the way for a rebranding under its new ownership structure. The agreement is expected to be finalised by July, with a new brand to be announced in October and the transaction completed by June 2027.

In July last year, Qantas Group shut down Jetstar Asia (3K), citing rising costs and intense competition, and redeployed its A320 fleet to support domestic operations and services in neighbouring New Zealand. In exiting Jetstar Japan (GK), the carrier cited similar reasons, saying it would refocus on its core operations in Australia and New Zealand.

Overall, Qantas’s (QF) decision to exit Jetstar Japan (GK) highlights its growing focus on home markets, as the airline steps back from overseas low-cost ventures to concentrate on Australia and New Zealand.