Qantas said it has signed an agreement with Japan Airlines to sell its minority stake in the economy airline Jetstar Japan. This move will bring in more than 80 million US dollars in revenue, and Qantas plans to reinvest this capital into its core business. Qantas said on Tuesday that it will sell 33.3% of its shares through a buyback, a move that will make the state-owned Development Bank of Japan a new shareholder. Qantas added that Japan Airlines and Tokyo Century Corp will maintain their current holdings.

Qantas said it has signed an agreement with Japan Airlines to sell its minority stake in the economy airline Jetstar Japan. This move will bring in more than 80 million US dollars in revenue, and Qantas plans to reinvest this capital into its core business. Qantas said on Tuesday that it will sell 33.3% of its shares through a buyback, a move that will make the state-owned Development Bank of Japan a new shareholder. Qantas added that Japan Airlines and Tokyo Century Corp will maintain their current holdings.