Qantas Airways sells its stake in Jetstar Japan, obtaining AUD 115 million.

Qantas Airways has announced that it has signed an agreement with Japan Airlines to sell its minority stake in the budget airline Jetstar Japan, a move that will generate over $80 million in revenue. Qantas plans to reinvest these funds into its core business. On Tuesday, Qantas stated that it will sell its 33.3% stake through a buyback, which will make the state-owned Development Bank of Japan a new shareholder. Qantas added that Japan Airlines and Tokyo Century Corp will maintain their existing holdings.