JAL buys out Mitsubishi’s stake in Jetstar Japan

JAL now holds 50% of the voting rights stock in Jetstar Japan, after acquiring Mitsubishi Corporation’s entire 16.7% stake in the airline. JAL did not disclose the value and timeline of the transaction but tells Cirium at this point, it has no plans to increase its stake in Jetstar Japan any further. “According to the company’s medium-term management plan, JAL looks to strengthen the LCC market in Japan and offer competitive fares that match the needs of price-sensitive customers, while increasing demand from our overseas customer base,” JAL tells Cirium. “(Jetstar Japan’s) business model will continue to focus on the LCC market in Japan. An external board director from Mitsubishi Corporation will retire from the position and a representative from JAL will replace the position.” <br/>