JAL Raises Stake in Jetstar Japan to 50 Pct
Tokyo, Nov. 18 (Jiji Press)--Japan Airlines <9201> has increased its equity stake in low-cost carrier Jetstar Japan from 33.3 pct to 50 pct, it was learned Monday.
JAL acquired the additional 16.7 pct stake in Jetstar from major Japanese trading house Mitsubishi Corp. <8058> by the end of September.
The company has not revealed the cost of the acquisition.
JAL's move came at a time when ANA Holdings Inc. <9202> is planning to integrate its two affiliated low-cost carriers to reinforce its business base.
Besides JAL, Australia's Qantas Airways holds a stake of 33.3 pct in Jetstar and Tokyo Century Corp. <8439> has 16.7 pct.
[Copyright The Jiji Press, Ltd.]