VN Airlines becomes key stakeholder of Jetstar Pacific

VGP - The national flag carrier, Vietnam Airlines, on February 21 announced that it has officially taken the majority share of Jetstar Pacific Airlines (JPA) from the Vietnamese State Capital Investment Cooperation (SCIC) and becomes JPA’s biggest shareholder.

February 22, 2012 8:54 AM GMT+7

Vietnam Airlines will hold 69.93% of the low-cost carrier, while the Australian Qantas Group, owns 27%.

Vietnam Airlines plans to sell 3% of its share to Qantas Airways in compliance with a previous agreement between Qantas Airways and SCIC.

Formerly known as Jetstar Airlines, JPA operates almost 150 services a week to seven destinations within the country./.